Candi Solar adds $18 million equivalent to solar debt facility
BIO and a climate fund managed by responsAbility backed the increase, bringing the facility to $42 million equivalent.
Candi Solar announced an $18 million-equivalent increase to its debt facility on October 10, 2024. BIO and a climate fund managed by responsAbility Investments provided the additional financing.
The increase brought the total committed facility to $42 million equivalent. Its multicurrency structure lets Candi align financing with solar projects in India and South Africa as the portfolio grows.
The funding supports new installations for commercial and industrial customers seeking lower electricity costs and a more dependable energy supply.
Use of funds
Finance distributed solar projects for commercial and industrial businesses in India and South Africa