Candi Solar Emerges as a Leading Distributed-Solar Partner for Businesses

With this fresh capital, Candi Solar plans to deploy nearly 200 MWp of new solar capacity across India and South Africa.

The company’s goal is to grow its contracted infrastructure to over 400 MWp by 2026, while also extending its offerings to include performance-linked solar services and energy-storage solutions — a strategic move to support more businesses shifting to clean energy.

Industry experts view IFC’s backing as a strong vote of confidence in Candi Solar’s business model.

The funding comes through a multicurrency facility that blends concessional and commercial financing components — designed to absorb early-stage risk while adhering to rigorous environmental, social and governance (ESG) standards.

For C&I customers, this could translate into lower energy costs, more reliable power supply, and smoother adoption of renewable energy.

About Candi Solar

Candi Solar is a distributed-solar energy company that focuses on providing clean electricity to commercial and industrial businesses. Founded in 2018, the company operates primarily in India and South Africa, offering solar power solutions that require no upfront investment from customers.

Its model is built around long-term, performance-based energy contracts, where Candi designs, finances, installs, and operates the solar systems while clients pay only for the energy they use.