On 1st September, STOA impact fund and candi solar, a clean energy company providing solar power to commercial and industrial customers, announced the closing of the series B fundraising of the company. STOA’s investment will allow candi solar to finance new solar projects in India and Africa, particularly South Africa, with the aim to reach 800 MWp of solar capacity installed by 2028.
This investment confirms STOA’s appetite for the distributed solar sector, i.e. small-size solar power plants located close to the customers, which are by nature quick to install and fit-for-purpose. STOA’s conviction is that the deployment of behind-the-meter solutions is as important as the installation of traditional utility-scale projects, in our common goal to reach a democratisation of renewable energy and ultimately fight climate change.
Marie-Laure Mazaud, CEO of STOA
Read the press release and know more
STOA is a long-term investor in sustainable and resilient infrastructure in developing and emerging countries, whose two shareholders are Caisse des Dépôts and Agence Française de Développement (AFD).