In a big boost to India’s renewable energy revolution, Candi Solar, a leading producer of clean, distributed solar energy solutions, has raised $58.5 million(524 Crore Approx) in a funding round spearheaded by the International Finance Corporation (IFC).

As businesses migrate rapidly away from fossil fuels, the extra cash will help Candi Solar boost the adoption of rooftop solar and sustainable energy infrastructure across commercial and industrial customers in India and other markets.

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The new funding will help Candi Solar to scale its offerings, including:

• Solar installations on rooftops,
• Intelligent metering systems,
• Infrastructure for clean energy for small and medium-sized businesses.

The company wants to expand throughout Southeast Asia and India, assisting thousands of companies in lowering energy expenses and carbon emissions at the same time.

Both new and current investors participated in the initiative, which was led by IFC, the World Bank Group’s private sector division.

IFC claims that Candi Solar’s asset-light renewable energy strategy is a natural fit with the global movement toward energy affordability, sustainability, and decarbonization.

The investment indicates trust in Candi Solar’s capacity to supply reliable, cost-efficient sustainable energy to businesses that are quickly transitioning away from fossil fuels.

In India, Candi Solar has already installed many megawatts of rooftop solar. With this cash, the company hopes to:

• Add much more capacity,
• Improve the integration of technologies,
• Create more robust, long-term clean energy alliances with companies.

This growth establishes Candi Solar as a major participant in the development of accessible, decentralized, and renewable power solutions as international enterprises work to lessen their carbon footprint.

Candi Solar’s goal to replace fossil fuels with clean, inexpensive, and scalable solar energy solutions has accelerated with the most recent $58.5 million(524 Crore Approx) financing.

With significant backing from IFC and other global investors, Candi Solar is destined to play a disruptive role in altering how companies throughout India and emerging nations consume electricity.