Candi Solar secures $38 mn for clean energy growth.

By Oliver Townsend Jun 10, 2024
candi solar raises $38 mn to boost clean energy expansion.pngOrginal image from: https://www.lokmattimes.com/technology/candi-solar-raises-38-mn-to-boost-clean-energy-expansion/

Candi Solar, a clean energy company based in New Delhi, recently announced that it successfully raised $38 million in a Series C funding round. This funding was led by Norfund, Kyuden International, and STOA, and will support the company’s expansion plans to finance an additional 200 MW of business solar projects. The funding will also aid in strategic hiring initiatives to sustain rapid growth.

Driving Clean Energy Expansion

Candi Solar’s innovative solar and battery solutions are paving the way for a more sustainable planet. The company’s commitment to powering a sustainable future, one rooftop at a time, has captured the attention of investors and industry experts alike. With a portfolio that includes projects for major companies like Airtel and Schneider Electric, Candi Solar is recognized as one of the top rooftop solar developers in India.

Supporting Underserved Markets

By partnering with Norfund, Kyuden International, and STOA, Candi Solar aims to provide renewable energy services to underserved markets. The company’s focus on business integrity, ESG practices, and health & safety standards align with the values of its investors, making this collaboration a strategic move towards a cleaner and more sustainable future.

Empowering Sustainable Solutions

The recognition and support from new investors alongside existing shareholders demonstrate Candi Solar’s dedication to building an international enterprise with a clear path to profitability. By leveraging this funding to expand its solar projects and hiring efforts, Candi Solar is poised to make a significant impact on the clean energy industry.

Building a Greener Future

As Candi Solar continues to innovate and grow, its commitment to providing clean energy solutions remains unwavering. The company’s focus on sustainability, innovation, and integrity sets a strong foundation for future growth and expansion. With the support of its investors, Candi Solar is well-positioned to lead the charge towards a cleaner and more sustainable future.

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