Husk Power Systems is all set to electrify 80 additional communities in India with $6 million in new debt financing that it has received from the EU- funded Electrification Financing Initiative (EDFI ElectriFI). The project is estimated to benefit 60,000 people and create a network of 10,000 new customers, primarily micro, small and medium-sized enterprises (MSMEs). The microgrids developed under the project are expected to offset roughly 11,640 tons of CO2.
Earlier this is year, Husk Power received the largest-ever local currency debt financing in the microgrid industry from the Indian Renewable Energy Development Agency (IREDA). The investment by EDFI ElectriFI is expected to complement the same. Prior to the EDFI ElectriFI debt, Husk Power already had about 150 net-zero microgrids in operation in India.
Husk Power is one of the largest operators of solar-hybrid microgrids across rural Asia and Africa. In June 2022, Husk Power announced its “Nigeria Sunshot Initiative,” a multiyear effort to provide reliable, renewable energy to at least 2 million Nigerians. As part of the initiative, Husk has also set a target for itself to remove at least 25,000 diesel/gasoline generators from operation by allowing businesses to transition to more affordable solar power. Husk has committed to powering at least 8,000 women-led businesses by 2026, and connecting 700 health clinics.