Candi Solar deploys $58.5m to power business

From the newsletter

The distributed solar developer for commercial and industrial (C&I) clients Candi Solar has secured $58.5 million in debt funding. Led by the International Finance Corporation (IFC), this is the largest funding slice in the company’s history. The multi-currency debt facility will enable nearly 200 MW of new projects with plans to double the portfolio by 2026.

• Investors are showing increasing appetite for distributed C&I solar, drawn by blended financing that reduces exposure to currency and operational risks in emerging markets.

• Market readiness is evident. A recent consumer survey in South Africa found that 79% of businesses without solar are open to installing it, while 67% of current adopters plan to expand their capacity.

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