Husk Power Systems solar mini-grids portfolio

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This project consists of development of 500 solar mini-grids in rural and peri-urban Nigeria and India with a total PV capacity of 15 MW, which is expected to benefit approx. 54,000 households and 6,000 SMEs. This would give rural communities in Sub-Saharan Africa and India access to clean, affordable, and reliable energy. The financing is secured by equity investment of $43 million in series D funding, provided by STOA, which led the round, DFC, Proparco, Shell Ventures, Swedfund and FMO ($2 million contribution), and debt support of $60 million by several finance institutions, including the International Finance Corporation (IFC) and the European Investment Bank ($20 million support). Sponsor of the project is Husk Power Systems. Financial close is achieved on October 24, 2023. https://www.fmo.nl/news-detail/d428b2e5-b5b2-4834-ba43-97b779e110e0/monthly-transaction-overview-october-2023 https://huskpowersystems.com/husk-power-secures-100-million-in-equity-and-debt-to-supercharge-growth-of-community-solar-minigrids-in-rural-sub-saharan-africa-and-south-asia/ https://techcrunch.com/2023/10/24/new-solar-mini-grids-in-africa-to-be-powered-by-husk-power-systems-103m-series-d/?guccounter=1 https://www.eib.org/en/press/all/2023-391-global-gateway-commissioner-urpilainen-launches-a-major-eu-package-to-drive-education-energy-and-transport-programmes-across-nigeria