Multicurrency loan facility · Climate tech
Candi Solar announces $10 million-equivalent loan for solar expansion
BIO and responsAbility financing will support commercial and industrial solar projects in India and South Africa.
Candi Solar announced a $10 million-equivalent multicurrency loan on February 22, 2022, with financing from BIO and responsAbility. BIO’s contribution was $5 million, with responsAbility cofinancing the same amount.
The facility supports new solar installations in India and South Africa. Candi develops, finances and operates the systems for businesses seeking reliable power while keeping the financing and management of solar assets with a specialist partner.
Use of funds
Finance new solar projects for commercial and industrial customers in India and South Africa
Funding history
Multicurrency loan facility · This round~$10M
Convertible note offering≤$4.2MJunior loan$3MSeries AUndisclosedCrowdfunded senior loan€125KSeedUndisclosed