Urja Daily
No Result
View All Result
  • News
  • Renewable
    • Solar
    • Rooftop
    • Floating Solar
    • Module
    • Wind
    • Hydrogen
    • Biomass
    • Tenders
    • Sustainibility
  • Storage
  • E-Mobility
  • Battery
  • Smart City
  • Power
    • Smart Grid
    • Microgrid
    • Off-Grid
  • Editor’s Pick
    • Articles
    • In Talks
    • E-MAG
    • Market Research
  • On-demand Webinars
  • More
    • Events
    • Contact Us
    • Subscribe
  • News
  • Renewable
    • Solar
    • Rooftop
    • Floating Solar
    • Module
    • Wind
    • Hydrogen
    • Biomass
    • Tenders
    • Sustainibility
  • Storage
  • E-Mobility
  • Battery
  • Smart City
  • Power
    • Smart Grid
    • Microgrid
    • Off-Grid
  • Editor’s Pick
    • Articles
    • In Talks
    • E-MAG
    • Market Research
  • On-demand Webinars
  • More
    • Events
    • Contact Us
    • Subscribe
No Result
View All Result
Urja Daily
No Result
View All Result
Home Renewable Solar

Candi Solar Secures $58.5 Million from IFC for Expansion Phase

Palak by Palak
December 15, 2025
in Solar
Reading Time: 4 mins read
0
Candi Solar
Share on FacebookShare on TwitterShare on Linkedin

Mumbai, Maharashtra, India – Candi Solar has secured USD 58.5 million in funding led by the International Finance Corporation (IFC), a member of the World Bank Group. This syndicated debt funding facility – the company’s largest round to date – brings Candi’s total capital raised to over USD 200 million and positions it firmly in the league of trusted, institutional-grade clean energy platforms.

The project will deliver clean, affordable solar solutions in South Africa and India, driving down operational costs and advancing sustainability for Candi’s clients. Candi’s portfolio has more than doubled to 220+ MWp in just 18 months, driven by 85 MWp of open-access projects in India and flagship sites including auto components manufacturer Pricol Limited in India, Ngwenya Lodge in South Africa, and the solar plant at Kings Park Stadium HQ, home of The Sharks rugby team. Candi also powers leading corporations such as IFF, Toyota, Pick n Pay, and Suryalakshmi Cotton Mills – proving the strength of its model across manufacturing, retail, and commercial real estate.

RELATED POSTS

Oswal Pumps Secures 20 MW Rooftop Solar Order

Vikram Solar Inaugurates 6 GW Module Plant in Tamil Nadu

A Vote of Confidence in Maturity

IFC’s investment reinforces Candi’s role as a trusted and scalable partner for businesses on their net-zero journey.

IFC’s investment comprises:

  • USD 6.5 million from the Canada-IFC Blended Climate Finance Platform
  • up to USD 42 million equivalent for IFC’s own account (composed of rands, rupees, and US dollars) a portion of which is supported by IFC’s Managed Co-lending Portfolio Program (MCPP).
  • A concessional loan of up to USD 10 million (mixed local rands and rupees) from IFC acting in its capacity as the implementing entity of the Climate Investment Funds’ Clean Technology Fund.

“This is the largest funding facility we have ever closed,” said Bruno Rauis, Director of Candi Solar. “It propels us into our next phase of growth and strengthens our ambition to be the leading distributed energy partner in India, South Africa, and beyond. IFC’s involvement is catalytic – it builds confidence among global investors and enables us to access larger pools of capital to scale faster in the years ahead.”
 

“This milestone marks an inflection point for Candi Solar in India,” said Nishant Sood, Managing Director of Candi Solar. “It empowers us to scale distributed projects faster, deliver substantial energy savings for our clients, and advance India’s net-zero pathway. IFC’s trust is a strong endorsement of our model — which has placed us among India’s leading distributed solar developers — and reflects the increasing depth and significance of the sector in a rapidly expanding market”

A Gateway for Global Capital

By blending concessional and commercial components, the IFC-led multicurrency facility (including local currency), which will support Candi’s growth across key regions for distributed generation, is structured to absorb early-stage financial, operational, and performance risks while maintaining stringent ESG and governance standards. This financing structure is not just about enabling Candi’s next phase; it is also about mobilising other global capital to an asset class once considered “too risky.”

“This facility is a strong validation of our results-based model and its ability to deliver reliable returns,” said KJ Mahoney, Head of Capital Structuring at Candi Solar. “IFC’s involvement demonstrates that distributed solar can meet the highest standards of performance, governance, and impact, paving the way for global investors to support this sector at scale.”

“At IFC, we see distributed solar as a powerful lever for accelerating energy access and efficiency in emerging markets,” said Claudia Conceicao, IFC Regional Director for Southern Africa. “Our partnership with Candi Solar demonstrates how innovative financing models can unlock private capital at scale – supporting small and medium-sized businesses to create jobs, reduce energy costs, and strengthen operational resilience.”
 

Impact Beyond Megawatts

The facility will directly finance nearly 200 MWp of new projects, with a broader impact on:

  • Sustainability – advancing clean energy adoption across key industrial clusters to lower emissions.
  • Resilience – strengthening grid stability for businesses and communities facing power volatility.
  • Employment & supply chains – creating jobs and building local industrial capacity.
  • Affordability – giving companies predictable energy costs and long-term competitiveness.

This round follows Candi’s USD 24 million equity and mezzanine raise earlier this year, laying the foundation for a high double-digit-million Series D in 2026.
 

A Clear Runway to 2026

With this milestone, Candi Solar is preparing for its next growth chapter. By 2026, the company aims to expand its contracted portfolio beyond 400 MWp across India and South Africa, while deepening its performance-linked product suite including storage energy solutions. Candi’s evolution reflects a bigger global story: distributed solar in emerging markets is no longer aspirational – it is proven, investable, and central to the world’s clean energy transition.

Tags: Candi SolarSolar Renewable Energy
ShareTweetShare
Palak

Palak

Related Posts

Oswal Energies

Oswal Pumps Secures 20 MW Rooftop Solar Order

by Palak
August 17, 2026
0

Oswal Pumps Limited has received a letter of award from North Bihar Power Distribution Company Limited (NBPDCL) for setting up...

Vikram Solar

Vikram Solar Inaugurates 6 GW Module Plant in Tamil Nadu

by Palak
August 17, 2026
0

Vikram Solar Limited has commissioned a 6 GW solar module manufacturing plant at Gangaikondan, Tirunelveli, Tamil Nadu. The facility is...

Saatvik Green

Saatvik Green Energy Secures ₹608 Crore Solar Module Orders

by Palak
August 17, 2026
0

Saatvik Solar Industries Private Limited, subsidiary of Saatvik Green Energy Limited, has received two orders aggregating to Rs 6.08 billion...

Purvah Green Power

Purvah Green to Acquire 1.4 GWp ReNew Solar Portfolio

by Palak
August 12, 2026
0

Purvah Green Power Private Limited, the renewable energy platform of CESC Limited, has agreed to acquire a 1.4 GWp operating...

Colombia

Colombia Clears 557 MW Solar Projects

by Palak
August 11, 2026
0

The National Environmental Licensing Authority (ANLA) has granted environmental approval for the Turpiales and Los Nogales solar parks located in...

Next Post
Jakson Solar

Jakson Leads India’s Shift to Circular Solar Economy with Nation’s First Hi-Tech PV Recycling Facility

Greenman

Greenman’s Viral Desai Bags National Energy Conservation Award for Third Straight Year

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

RECOMMENDED

Oswal Energies

Oswal Pumps Secures 20 MW Rooftop Solar Order

August 17, 2026
Ashoka Buildcon

Ashoka Buildcon Wins Sakoli Substation Project LoI

August 17, 2026

MOST VIEWED

  • Solar

    When the Sun Began Paying the Electricity Bills: The Story of PM Surya Ghar Muft Bijli Yojana

    0 shares
    Share 0 Tweet 0
  • India’s Emerging Polysilicon Manufacturing Ecosystem: Opportunities and Challenges

    0 shares
    Share 0 Tweet 0
  • KP Group & PP Savani University Launches Urjanoor Scholarship

    0 shares
    Share 0 Tweet 0
  • StarlinePS Enterprises Invests ₹160 Crore in Celloraa Energy

    0 shares
    Share 0 Tweet 0
  • Business Delegation Signs 66 MoUs During Central Asia Visit to Boost Multi-Sector Collaboration

    0 shares
    Share 0 Tweet 0

Oswal Pumps Secures 20 MW Rooftop Solar Order

Ashoka Buildcon Wins Sakoli Substation Project LoI

Agastya Energy to Invest ₹7,800 Crore in 12 GW Ingot-Wafer Expansion

TARIL Wins ₹500 Crore APTRANSCO Transformer Order

Vikram Solar Inaugurates 6 GW Module Plant in Tamil Nadu

Saatvik Green Energy Secures ₹608 Crore Solar Module Orders

Latest Magazine

© 2016 – 2025 TechZone Print Media | All Rights Reserved

  • About Us
  • Contact Us
No Result
View All Result
  • News
  • Renewable
    • Solar
    • Rooftop
    • Floating Solar
    • Module
    • Wind
    • Hydrogen
    • Biomass
    • Tenders
    • Sustainibility
  • Storage
  • E-Mobility
  • Battery
  • Smart City
  • Power
    • Smart Grid
    • Microgrid
    • Off-Grid
  • Editor’s Pick
    • Articles
    • In Talks
    • E-MAG
    • Market Research
  • On-demand Webinars
  • More
    • Events
    • Contact Us
    • Subscribe

© 2016 - 2025 TechZone Print Media | All Rights Reserved