STOA, DFC and Proparco in Husk mini-grid funding round

Husk Power Systems, a mini-grid company serving rural communities in sub-Saharan Africa and South Asia, has secured a new round of equity investment totalling $43 million. New investors include STOA, which led the round, the U.S. International Development Finance Corporation (DFC), and Proparco, with follow-on investments from existing shareholders including Swedfund and FMO. The funding will accelerate the rollout of mini-grids in rural and peri-urban Nigeria and India, enabling increased access to clean, affordable, reliable, and modern energy.

Husk builds, owns and operates mini-grids in rural India and Africa. The company has 200 operational mini-grids, and aims to double its footprint in the next 12 months. It combines solar energy, batteries, and backup sources to ensure round-the-clock access to clean and affordable power for small businesses and households.

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