September 16

Husk Power Systems Secures $6 Million from EU-funded EDFI ElectriFI

By Uma Gupta

Bihar-based Husk Power Systems will use $6 million of newly acquired funds to build solar hybrid microgrids in 80 communities in rural India. The renewables services provider already owns and operates more than 120 microgrids in India.

Husk Power Systems, which operates the largest fleet of solar-hybrid microgrids in rural Asia and Africa, said this week that it has secured $6 million of new debt financing from the EU-funded impact investor Electrification Financing Initiative (EDFI ElectriFI).

EDFI ElectriFI invests in early-stage companies and projects in the energy access sector. The long-term, low-cost debt financing to Husk is one of the largest investments in the microgrid industry by EDFI ElectriFI.

Photo courtesy of Axel Fassio/CIFOR.

Source: ETEnergyWorld (link opens in a new window)

Energy, Investing
energy access, renewable energy