Candi Solar has closed $58.5 million in debt financing, led by the International Finance Corporation (IFC), marking the largest funding facility in the company’s history. The capital will finance nearly 200 MWp of distributed solar projects and accelerate the company’s growth after surpassing 220 MWp in operational capacity. With total funding now exceeding $200 million, Candi Solar is set for a major scale-up across India and South Africa.
Why This Funding Matters
Distributed solar is emerging as a critical driver for energy access, operational resilience, and cost efficiency in emerging markets. The facility validates Candi Solar’s results-driven, performance-based model, reinforcing investor confidence in scalable renewable energy solutions.
The partnership with IFC signals both global credibility and access to larger pools of private capital, positioning Candi Solar as a leading distributed energy partner in high-growth markets.
Leadership Perspectives
Bruno Rauis, Director, Candi Solar:
“This is the largest funding facility we have ever closed. 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.”
KJ Mahoney, Head of Capital Structuring, Candi Solar:
“This facility validates our results-based model and its ability to deliver reliable returns. IFC’s involvement demonstrates that distributed solar meets the highest standards of performance, governance, and impact.”
Claudia Da Conceicao, IFC Regional Director – Southern Africa:
“Distributed solar is a powerful lever for accelerating energy access and efficiency. Our partnership with Candi Solar shows how innovative financing can unlock private capital at scale, supporting jobs, reducing energy costs, and strengthening resilience.”
The Strategic Implications
The new funding empowers Candi Solar to:
- Expand distributed solar capacity in commercial and industrial sectors,
- Strengthen operations in India and South Africa,
- Deliver scalable, high-performance renewable energy solutions,
- Build investor confidence for larger future capital raises,
- Enable SMEs to reduce energy costs and improve operational efficiency.
This positions the company at the forefront of a rapidly growing distributed solar market, demonstrating how innovative financing can unlock impact at scale.
Candi Solar’s $58.5M debt raise isn’t just a financial milestone it’s a strategic accelerator for renewable energy adoption, operational resilience, and sustainable growth. With IFC’s involvement and a proven results-driven model, the company is set to redefine distributed solar deployment in emerging markets, delivering measurable returns for investors while powering a cleaner, more efficient energy future.
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