Husk Secures $4 Million from Electrifi to Scale up Mini Grids in Rural India

The latest funding builds on the $6 million investment last September


Husk Power Systems, a decentralized solar-hybrid mini-grids provider, has secured a $4 million investment in debt financing from Electrifi. This impact investment facility will enable the company to accelerate its efforts to provide clean energy access in rural India.

The latest funding adds to ElectriFi’s $6 million investment in September 2022, which allowed Husk to implement solar microgrids that electrified 80 communities.

Husk, which builds and operates low-cost hybrid power plants and distribution networks, has delivered reliable, clean electricity to remote communities, households, and micro, small, and medium-sized enterprises not connected to the grid in India and Africa.

“In total, the $10 million from EDFI MC is an important enabler for Husk to scale its mini-grid footprint in India and achieve an even greater impact on tens of thousands of lives and livelihoods,” said Manoj Sinha, Co-Founder and CEO of Husk.

In the past, ElectriFi, managed by EDFI Management Company and funded by the European Union, has supported Husk’s efforts to achieve its impact and operational targets. This further enabled Husk to attract significant interest from other investors, translating to the company raising $43 million in Series D funding.

The company acts as a catalyst for facilitating further private capital funding for high-impact businesses, such as Husk’s.

“Our initial investment not only provided Husk with essential capital but also served as a strong validation of their business model, attracting further significant investment. This is a prime example of how ElectriFI fosters innovation and unlocks commercial financing for clean energy solutions in emerging markets,” said Rodrigo Madrazo, CEO of EDFI Management Company.

Last January, Husk also secured $750,000 in debt financing from Deutsche Investitions- und Entwicklungsgesellschaft to support its expansion of microgrids in North and East India.