About Candi Solar
Company Overview
Candi Solar AG, privately held
Zurich, Switzerland
2017
Approximately 50 employees ranged from 15–50 in recent years (source: offerzen.com)
What They Do
Candi Solar is a Swiss-founded distributed solar power company that has evolved from a commercial and industrial (C&I) solar developer into a multi-country platform delivering end-to-end solar and battery solutions for businesses (source: candi.solar). The company focuses on providing integrated solar photovoltaic (PV) and battery systems, combining Swiss engineering and design with local market insights to simplify solar adoption for commercial clients (source: candi.solar). Their business model encompasses the full project lifecycle including procurement, development, construction, financing, and operation of solar assets, particularly targeting SMEs and industrial customers in emerging markets such as India and South Africa (source: northdata.com). Candi Solar’s approach enables customers to lower their effective power costs while freeing up capital through innovative financing structures like save-to-own power purchase agreements (source: edfimc.eu). The company operates offices across Switzerland, India, South Africa, and the Netherlands, supporting its geographically diverse client base (source: candi.solar).
Projects & Track Record
Candi Solar’s track record is characterized by significant financing milestones and ambitious deployment targets rather than a long list of individually named projects. The company secured a USD 3 million commitment from EDFI ElectriFI to support expansion in India and deploy up to 36 MW of photovoltaic solar modules, marking an important early milestone in its growth (source: edfimc.eu). In June 2024, Candi Solar announced a USD 38 million Series C equity round led by Norfund, Kyuden International, and STOA to finance an additional 200 MW of commercial and industrial solar projects, underscoring its rapid scale-up ambitions (source: stoainfraenergy.com). Further accelerating its growth, the company secured an additional USD 18 million in debt funding from responsAbility and BIO in October 2024, increasing its total committed debt facility to USD 42 million and supporting expansion efforts in India and South Africa (source: responsability.com). These financial achievements highlight Candi Solar’s strong investor confidence and its focus on building a scalable platform for distributed solar energy in emerging markets.
Recent Developments
In the past two years, Candi Solar has made significant strides in securing capital to fuel its expansion. On 10 June 2024, the company announced a USD 38 million equity funding round led by Norfund, Kyuden International, and STOA aimed at supporting growth and developing 200 MW of additional commercial and industrial solar projects (source: stoainfraenergy.com). Subsequently, on 10 October 2024, Candi Solar secured an additional USD 18 million in debt funding from responsAbility and BIO, raising its total committed debt facility to USD 42 million and accelerating solar energy expansion in India and South Africa (source: responsability.com). Earlier project finance support from EDFI ElectriFI also contributed USD 3 million to finance customer expansion in India and deploy up to 36 MW of PV modules (source: edfimc.eu). These developments reflect Candi Solar’s transition from initial project deployment toward establishing a scalable platform backed by institutional investors.
Working There
Candi Solar offers roles across finance, engineering, asset management, and operations, reflecting its integrated business model. Job listings have included positions such as financial structurer and Senior Engineer / Assistant Manager – Asset Management, with locations spanning India including Chhattisgarh and Pune (source: indeed.com) (source: climatetechlist.com). The company’s recruitment page currently shows no open positions, indicating a compact and selective hiring approach (source: join.com). Public profiles emphasize a values-driven culture within a small, distributed team of approximately 50 employees, operating across multiple offices in Zurich, India, South Africa, and the Netherlands (source: offerzen.com) (source: builtin.com). This multi-office structure supports a collaborative environment focused on delivering integrated solar solutions globally.
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