ElectriFI expands support for minigrids firm Husk Power

Solar-hybrid minigrids firm Husk Power Systems has attracted USD 4 million (EUR 3.75m) in debt financing from ElectriFI, an EU-funded impact investment facility managed by EDFI Management Company.

Husk is a rural distributed utility firm that builds renewable energy minigrids in Asia and Sub-Saharan Africa. The company was established in India in 2008.

The transaction announced on Monday follows an initial USD-6-million investment from ElectriFI in September 2022.

“In total, the USD-10 million from EDFI MC is an important enabler for Husk to scale its minigrid footprint in India, and achieve an even greater impact on tens of thousands of lives and livelihoods,” Husk’s CEO and co-founder Manoj Sinha noted in a press statement.

At the end of March, Husk closed USD 20 million in debt financing from the European Investment Bank (EIB) to ramp up its activities in Nigeria. The financing was part of a USD-100-million Series D raise in October 2023.

(USD 1 = EUR 0.938)

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