Candi Solar raises $58.5M to expand solar solutions in India & South Africa

Candi Solar raised $58.5 million in debt funding led by IFC to grow in India and South Africa. Founded by Nishant Sood, Fabio Eucalipto, and Philippe Flamand, it targets over 400 MWp in contracted capacity. The funding supports its performance-linked solar and storage products. Clients include Pricol, Toyota, and Suryalakshmi Cotton Mills.