Candi Solar pockets $38 million to speed-up 'Clean Energy Growth' in India
A solar power solutions provider serving clients under industrial and commercial sectors has successfully closed its Series C Funding round by raising $38 million. The funding round was driven by Norfund, Kyuden International & STOA.
Since its establishment in the year 2018, Candi Solar has been dedicated to transforming the landscape of energy across the areas of Asia and South Africa.
Through an unwavering focus on permitting the distributed infrastructure of energy at scale, the startup has boomed as a credible partner for business looking for clean energy solutions.
Harnessing its extreme knowledge as solar engineer, operator and financier in the field, Candi solar has positioned itself as an industry leader in the field along with a total capacity of 113 MW.
The company privileges to have a strong portfolio underscored by prominent projects including Jindal and Airtel in Indi and Schneider Electric in South Africa, highlighting the ability of Candi to cater the demands of key players in the industry, additionally strengthen its credibility and reputation for supplying high-ended and high-quality clean-tech solutions and services.
The geographical presence of the company spans over Indian and South Africa comprising 17 states 2 union territories – India and 8 provinces - South Africa.
Regarding this significant fundraise and articulating his zeal to the company’s goals, Fabio Eucalipto, Co-Founder & Director at Candi Solar says, “As the world embraces decentralized power generation, this round of growth capital propels us closer to emerging as the premier rooftop solar player in the commercial and industrial space across all our markets."
"Our innovative solar and battery solutions and pioneering financial products accelerate our purpose of powering a more sustainable planet, one rooftop at a time. This recognition from our new investors, Norfund and Kyuden, alongside the unwavering support of our existing shareholder STOA, fuels our commitment to building an international enterprise with a robust path to profitability”, Eucalipto added.
Since its establishment in the year 2018, Candi Solar has been dedicated to transforming the landscape of energy across the areas of Asia and South Africa.
Through an unwavering focus on permitting the distributed infrastructure of energy at scale, the startup has boomed as a credible partner for business looking for clean energy solutions.
Harnessing its extreme knowledge as solar engineer, operator and financier in the field, Candi solar has positioned itself as an industry leader in the field along with a total capacity of 113 MW.
The company privileges to have a strong portfolio underscored by prominent projects including Jindal and Airtel in Indi and Schneider Electric in South Africa, highlighting the ability of Candi to cater the demands of key players in the industry, additionally strengthen its credibility and reputation for supplying high-ended and high-quality clean-tech solutions and services.
The geographical presence of the company spans over Indian and South Africa comprising 17 states 2 union territories – India and 8 provinces - South Africa.
Regarding this significant fundraise and articulating his zeal to the company’s goals, Fabio Eucalipto, Co-Founder & Director at Candi Solar says, “As the world embraces decentralized power generation, this round of growth capital propels us closer to emerging as the premier rooftop solar player in the commercial and industrial space across all our markets."
"Our innovative solar and battery solutions and pioneering financial products accelerate our purpose of powering a more sustainable planet, one rooftop at a time. This recognition from our new investors, Norfund and Kyuden, alongside the unwavering support of our existing shareholder STOA, fuels our commitment to building an international enterprise with a robust path to profitability”, Eucalipto added.
