Candi Solar closes IFC-led facility worth up to $58.5 million equivalent
The multicurrency debt package will finance solar projects for commercial and industrial customers in India and South Africa.
Candi Solar announced an IFC-led syndicated debt facility worth up to $58.5 million equivalent on November 27, 2025. The financing combines commercial and concessional capital in US dollars, Indian rupees and South African rand.
The package includes capital from the Canada-IFC Blended Climate Finance Program and the Clean Technology Fund, alongside IFC lending and financing mobilized through its Managed Co-Lending Portfolio Program.
The facility will support nearly 200 MWp of new solar projects in India and South Africa. Candi finances and operates distributed energy installations, helping business customers adopt solar power without managing the systems themselves.
Use of funds
Finance distributed solar projects for commercial and industrial businesses in India and South Africa