Candi Solar has raised $58.5 million in a major debt funding round led by the International Finance Corporation (IFC). This marks one of the company’s largest funding boosts and pushes its total capital raised to more than $200 million across equity and debt. The fresh investment strengthens Candi Solar’s mission of delivering reliable, affordable, and clean energy to businesses across India and South Africa. With growing demand for sustainable energy solutions, this funding arrives at the perfect time to accelerate the company’s next phase of expansion.
Candi Solar’s Growing Role in Clean Energy
Candi Solar focuses on providing distributed solar solutions to commercial and industrial customers. Instead of just installing solar panels, the company offers a complete package that includes financing, building, and long-term management of the systems. This helps businesses adopt solar energy without worrying about upfront costs or operational challenges. The company works with a large network of small and medium manufacturers, warehouses, and commercial facilities that want to reduce electricity costs and switch to cleaner energy. Since its founding in 2018, Candi Solar has grown steadily, becoming a trusted solar partner for companies that want reliability and sustainability at the same time.
Expansion Plans Powered by New Capital
Candi Solar plans to use the newly raised funds to grow its solar footprint significantly. A major part of the capital will go toward building nearly 200 megawatts of new solar capacity across India and South Africa. With this expansion, the company aims to reach more than 400 megawatts of contracted solar capacity by 2026, which will place it among the leading distributed solar providers in emerging markets. Along with scaling solar projects, Candi Solar is investing in advanced storage solutions so businesses can store solar power and use it during peak hours or power outages. The company is also upgrading its performance-linked services to ensure customers receive strong returns, improved uptime, and lower long-term energy costs.
A Boost for Businesses and the Environment
The funding round is expected to create a meaningful impact beyond company growth. Candi Solar’s solutions help businesses lower their dependence on expensive grid electricity. Solar installations reduce operational costs for industries and make their energy supply more stable, especially in regions where power shortages are common. On a broader level, every solar project plays a role in reducing carbon emissions and supporting global climate goals. The company’s expansion also supports the creation of skilled green jobs, strengthens energy security, and encourages more businesses to transition toward sustainable solutions.
What the Future Looks Like for Candi Solar
With IFC’s strong backing, Candi Solar is now preparing for a rapid scale-up phase. The company is expected to explore additional funding rounds in 2026 to support its long-term roadmap. As more industries prioritise clean and cost-efficient energy sources, Candi Solar is well-positioned to lead the shift toward distributed solar adoption. With its expanding portfolio, growing presence in two major markets, and focus on innovation, the company is inching closer to becoming a global name in industrial solar solutions. The latest funding marks a major step in that journey, signalling brighter and more sustainable days ahead for both businesses and the planet.