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candi solar AG

Country
India
Technology
Solar PV
Business model
CPP
created by dji camera

EDFI ElectriFI’s funding will contribute to financing the expansion of candi solar’s customer base in India and its deployment of up to 36 MW of photovoltaic solar modules.

Contract signature date: Oct 2020

Total ElectriFI financing: USD 3m (EUR 2.68m)

Environmental and Social Category: B
(A) high risk, (B+) medium high risk, (B) medium risk or (C) low risk

 

Project overview:

candi is a company that finances, builds and operates solar systems for SMEs in India and South Africa, whereby the aim is to help customers improve their bottom line while at the same time creating a positive environmental impact.

Funding objective:

EDFI ElectriFI’s funding will contribute to finance the expansion of the customer base in India and deploy up to 36 MW of photovoltaic solar modules. This system will run under a “save-to-own” power purchase agreement over the next two years, allowing customers to own the plant for free at the end of the contract period.

Why ElectriFI wants to fund this project:

Access to an affordable, reliable and clean source of energy continues to hold back the development of SME’s in India and in sub-Saharan Africa. By joining the funding round, EDFI ElectriFI will contribute proving the scalability of the business model and its replicability in sub-Saharan Africa.

 

Website: https://www.candi.solar/

Impact

Number of beneficiaries
152 320
Annual output (MWh/y)
19 264
GHG avoidance (tCO2eq/y)
22 400

Key indicators

Beneficiary
Candi Solar AG
Financing instrument
Junior debt
Amount
USD 3m (EUR 2.68m)
Country
India
Technology
Solar PV
Business model
Captive Power Plant
Year
2020
Facility
ElectriFI Global

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