Candi Solar receives $14m multi-currency loan
Candi Solar has received a $14 million equivalent multi-currency loan from a climate fund managed by Swiss impact investment manager, ResponsAbility Investments AG, and BIO, the Belgian Investment Company for Developing Countries. This follows a previous $10 million loan to the clean energy platform.
The funding will be used to finance new solar projects in South Africa and India. The loan structure allows Candi to allocate funds between the two countries and choose the denomination currency to align its funding profile with the growth of its project portfolio.
Candi offers solar financing through the provision of solar ownership models with flexible, customer-centric contracts. Taking the key aspects of a standard power purchase agreement (PPA) model and enhancing it with an array of valuable additions, Candi provides simplicity, lower risk and higher value. The company aims to add 1 GWp of generation capacity to its portfolio.