Candi Secures $58.5M For 220 MWp Solar

Key Figures & Findings: Candi Solar, a fast-scaling distributed solar developer operating across South Africa, has secured $58.5 million in debt funding led by the International Finance Corporation (IFC). The investment aims to support new rooftop and open-access solar projects designed to cut energy costs, stabilise power supply, and accelerate renewable adoption across key economic clusters, targeting factories, lodges, retail chains, and manufacturing hubs facing persistent grid volatility.

 Statistics & Insights:

• Funding Amount: $58.5 million in syndicated debt.

• Investor Composition: IFC's investment includes $6.5 million from the Canada-IFC Blended Climate Finance Platform, up to $42 million from IFC's own account, and a concessional loan of up to $10 million from the Clean Technology Fund.

Source: Digital Terminal

Quick Take: 🇿🇦⚡ IFC Turbocharges Candi’s Rise