Debt facility increase · Climate tech
Candi Solar expands solar debt facility by $14 million equivalent
The increase from BIO and a climate fund managed by responsAbility brings the facility to $24 million equivalent.
Candi Solar announced a further $14 million-equivalent loan from BIO and a climate fund managed by responsAbility on February 28, 2023. The increase followed an initial $10 million-equivalent facility.
The expanded facility will finance solar projects in South Africa and India. Its multicurrency structure gives Candi flexibility to match financing with the location and currency needs of its project portfolio.
Use of funds
Finance new solar projects for commercial and industrial customers in India and South Africa
Funding history
Debt facility increase · This round~$14M
Series BUndisclosedMulticurrency loan facility~$10MConvertible note offering≤$4.2MJunior loan$3MSeries AUndisclosedCrowdfunded senior loan€125KSeedUndisclosed