candi solar

Subsidy : May 2022

BIO has granted USD 16,320 in technical assistance to candi solar, a company installing, owning and operating solar production plants and selling electricity to clients in India and South Africa.

Amount

€ 15,203.00

Type of investment

Subsidy

Beneficiary locations

Asia: India

Sub-Saharan Africa: South Africa

Investment field

Infrastructure

Activity

DD.35.113 Production of electricity: solar

Organisation

candi solar

Website

http://candi.solar

Domicile

Netherlands

More investments in

candi solar

Debt € 6,180,468.00 (2023)
Debt € 4,074,650.00 (2021)

candi’s core strategy is to serve SMEs that need reliable and affordable energy but prefer to focus their resources on their core business and outsource the financing and management of a solar plant.

Solar plants are generally installed on rooftop and range from 20KWp^_* to average sizes 3-4MWp with an average of 350KWp. To unlock this market overlooked by most players, candi ambitions to reach high volumes, compress transaction costs, leverage its fundraising expertise and rely on state-of-the-art proprietary credit analysis and monitoring tools to minimise risks.

_{* kWp stands for kilowatt ‘peak’ power output of a system. A solar panel with a peak power of 3kWp which is working at its maximum capacity for one hour will produce 3kWh.}

Technical assistance

The technical assistance is aimed at upgrading candi's credit scoring tool to accompany the growth of the company.

Expected impact

Reduction of operational risk/mistakes due to cumbersome handling,
Faster process; increasing overall capacity of the team,
Improvement in the accuracy or details of client credit scoring, and
Better understanding in the sales team of credit risk drivers and decision

Read impact and news about this project

News

Investment in candi solar

22-02-2022

responsAbility Investments, the Swiss impact investment manager, and BIO, the Belgian Investment Company for Developing Countries, have provided a USD 10 million equivalent multi-currency loan to candi solar, a visionary financial and clean energy platform through which distributed energy infrastructure in emerging markets can be built at scale.