Pentagreen, Candi Solar Announce USD 50 Mn Financing Partnership for 400 MWp Solar + BESS in India
Pentagreen Capital and Candi Solar have signed a USD 50 million financing partnership to develop 400 MWp of solar and battery energy storage projects for SMEs across India.
November 06, 2026. By Mrinmoy Dey
Pentagreen Capital, manager of the Green Investments Partnership (GIP) under Singapore’s Financing Asia’s Transition Partnership (FAST-P) initiative, will provide financing to support Candi Solar’s expansion across India’s commercial and industrial (C&I) segment. The partnership will also support Candi’s objective of more than doubling its operational capacity to exceed 1 GW over the next 24 months, Candi Solar said in a statement.
It further added that the facility will finance rooftop, ground-mounted and open-access solar installations paired with battery energy storage systems (BESS) across key business hubs in India. These projects are expected to generate 560 GWh of renewable energy annually, serve 227 C&I customers, of which 78 percent are SMEs, and avoid an estimated 397,000 tonnes of carbon dioxide emissions annually.
Commenting on the partnership, Marat Zapparov, CEO of Pentagreen Capital, said, “India’s growing energy demand and need to reduce oil imports make the transition to clean energy both a strategic and an economic priority. Together, we are unlocking finance for projects that make clean energy accessible to an underserved segment, help businesses stabilise their energy costs, and strengthen India’s energy security.”
Fabio Eucalipto, Co-founder and Director of Candi Solar, said, “By combining rooftop and ground-mounted open-access solutions with flexible financing, we can deliver tailored energy solutions at scale. Our partnership with Pentagreen is an important milestone and the first building block in our next phase of growth.”
The partnership is expected to expand clean energy access among SMEs, which account for 31 percent of India’s GDP and 35 percent of its manufacturing output, but remain underserved in renewable energy adoption, Candi Solar stated.
The company further added that under Candi’s turnkey shared-value model, customers preserve their capital and pay only for the clean energy generated, while Candi manages engineering, construction and long-term operational performance. Its flexible, performance-linked solar and storage solutions are designed to help businesses reduce dependence on conventional energy sources, manage energy costs and limit exposure to fluctuations in diesel and grid electricity prices.
Candi Solar plans to use the financing alongside additional shareholder commitments and an equity round planned for early 2027 to accelerate its expansion and bring clean energy to more businesses across India, the company stated.
please contact: contact@energetica-india.net.
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