International Finance Corporation Invests $58.5 Million In Candi Solar To Expand Its Solar Projects In India and Africa 

International Finance Corporation Invests $58.5 Million In Candi Solar To Expand Its Solar Projects In India and Africa 

December 15, 2025

Candi Solar, a provider of solar power solutions to businesses, has raised an additional $58.5 million in funding in a loan deal led by International Finance Corporation-World Bank Group. This is the single largest funding round raised by the company, pushing its total fundraising to date to over $200 million.

It will be utilized to establish almost 200 megawatts of new solar power projects in India and South Africa. These projects would help companies cut their electricity bills and be less reliant on traditional power sources.

The funding is coming from various IFC-supported climate finance programs, including support from Canada and global clean energy funds. Over the last 18 months, Candi Solar has already expanded its solar capacity to more than 220 MW, helped by India’s open access solar policies and projects completed for companies and locations like Pricol Limited in India, Ngwenya Lodge, and Kings Park Stadium in South Africa.

Currently, Candi Solar is supplying clean energy to household brands like Toyota, IFF, Pick ’n Pay, and Suryalakshmi Cotton Mills. According to leaders at the company, this new funding gives them an opportunity to expand the business further and become one of the leading solar energy partners in emerging markets. Added officials from IFC: “Such financing attracts private investment and creates jobs while cutting energy costs and helping companies achieve sustainable growth.