Clean energy company Candi Solar raises $58.5 Mn led by IFC

Candi Solar, a clean energy company specialising in distributed solar solutions for commercial and industrial (C&I) businesses, has secured $58.5 million in a debt funding round led by the International Finance Corporation (IFC), a member of the World Bank Group.

Candi Solar has raised significant funding, including a recent Series C round of $24 million in July 2025. 

The proceeds will be utilized to expand its contracted portfolio beyond 400 MWp across India and South Africa, while deepening its performance-linked product suite including storage…