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A leading nuclear science and technology group in Canada, along with the investment arm of one of the country’s top banks, said they together would invest about CA$ 20 million ($ 14.6 […]
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A Colorado company that serves rural communities with solar power-based microgrids announced an investment that would provide more than 100 installations across two states in India.
Husk Power Systems on Feb. 17 said it had closed $ 4.2 million in debt financing from the India Renewable Energy Development Agency (IREDA) to build as many as 140 microgrids in Uttar Pradesh and Bihar, areas where Husk has operated smaller power generation projects since 2008.
Husk officials said that in addition to the IREDA loan, the company expects to raise an another $ 18 million in debt this year to support project deployment, and also is starting fundraising for a Series D equity round. Husk in its announcement said the company, which has primarily served communities in India and Africa, expects to have about 1,300 small power projects in operation by 2025 across multiple markets.
“The IREDA financing demonstrates the Government of India’s vision in making microgrids an integral part of its net-zero goal put forward at COP26,” said Manoj Sinha, Husk’s CEO and co-founder.…