(Ecofin Agency) – With 143 installations in South Africa and India, Candi Solar already has an installed capacity of more than 110 MW while mitigating approximately 104,436 tonnes of CO equivalent emissions2 per year since its creation in 2018.
Candi Solar, a company specializing in distributed solar energy solutions for commercial and industrial customers, has secured an additional $18 million in financing from a climate fund managed by responsAbility Investments AG, the leading asset manager in Swiss impact, and BIO, the Belgian investment company for developing countries.
Announced on October 10, this new commitment brings the total amount of the committed credit facility to $42 million. The fund will strengthen Candi Solar’s position as a trusted partner for businesses in India and South Africa seeking sustainable energy solutions.
« We are excited to continue our partnership with responsAbility and BIO, who have played a crucial role in our growth trajectory“, declared Bruno Rauis, director of Candi Solar.
For South Africa and the Southern African region, this is the second funding announced in less than a week since the start of October. This demonstrates the dynamism and attractiveness of the renewable energy sector in this area.
According to the latest IEA report, the expansion of renewable energy in Africa by 2030 will mainly occur in South Africa which will be responsible for the installation of almost 40% of new capacity.
Abdullah Diop
Also read:
10/10/2024 – 90 GW of new renewable capacity in Africa by 2030 (Report)
09/10/2024 – GreenCo secures $40 million for renewables in Southern Africa
