Candi Solar provides turnkey distributed solar solutions, installing rooftop and on-site systems that supply renewable power directly to commercial and industrial facilities. Its installed portfolio has more than doubled in the past 18 months and now exceeds 220 MWp of peak capacity, delivering power equivalent to thousands of Indian homes. The company serves multinational clients such as Toyota, IFF, Pick'n Pay and Suryalakshmi Cotton Mills, positioning itself as a trusted energy partner across multiple sectors. Candi has raised more than $200 million to date, including a $24 million equity and mezzanine round earlier in 2023 and the new IFC-led debt package. The fresh capital will finance nearly 200 MWp of additional projects and support the rollout of performance-linked offerings like battery storage. Management aims to expand the contracted portfolio beyond 400 MWp by 2026 while advancing goals around carbon reduction, grid stability and job creation. By blending concessionary and commercial funding, Candi Solar seeks to scale faster and maintain high ESG and governance standards.

Total raised

$100M

Funding rounds

4

Latest round

Debt Financing

Latest activity

Nov 2025