Candi Solar signs $50 million facility for solar and storage in India
The financing partnership with Pentagreen Capital targets approximately 400 MWp of projects for commercial and industrial customers.
Candi Solar has signed a $50 million financing partnership with Pentagreen Capital, manager of the Green Investments Partnership. The debt facility will support approximately 400 MWp of solar and battery storage projects in India.
The projects target commercial and industrial businesses, including smaller companies underserved by renewable energy financing. Candi develops and operates the installations, allowing customers to pay for generated electricity while limiting their initial capital investment.
The company intends to more than double its operational capacity to over 1 GW within two years.
Use of funds
Finance approximately 400 MWp of solar and battery storage projects for commercial and industrial customers in India