Pentagreen Capital and Candi Solar Announce $50 Million Financing for 400 MWp Solar and Battery Storage Projects in India
Pentagreen Capital and Candi Solar have announced a $50 million financing partnership. It will support around 400 MWp of solar and battery energy storage system (BESS) projects in India.
The funding will be used for rooftop, ground-mounted and open-access solar installations paired with BESS. The partnership aims to improve access to renewable energy for small and medium-sized enterprises (SMEs). The source does not state project locations or commissioning timelines.
The projects are expected to generate 560 GWh of renewable energy annually. They will serve 227 commercial and industrial customers, 78 per cent of which are SMEs. The projects are expected to avoid around 397,000 tonnes of carbon emissions each year.
The projects will be executed under Candi Solar’s turnkey shared value model. Customers pay only for the clean energy generated. Candi Solar manages project engineering, construction and long-term operations.
