Pentagreen Capital commits $50M to Candi Solar for 400 MWp in India
The funding agreement targets distributed solar and battery storage deployment for Indian industrial and commercial enterprises.
Pentagreen Capital and clean energy provider Candi Solar have signed a $50 million financing partnership to support approximately 400 MWp of solar and battery energy storage system (BESS) installations across India, saurenergy.com reported 
saurenergy.comsaurenergy.comsaurenergy.comOpen source ↗. The facility is managed under the Green Investments Partnership strategy within Singapore’s Financing Asia’s Transition Partnership initiative. Candi Solar plans to utilize the capital alongside an upcoming equity round to increase its total portfolio capacity to over 1 GW within 24 months saurenergy.comsaurenergy.comsaurenergy.comOpen source ↗.
Portfolio scale and technical parameters
The funding covers rooftop, ground-mounted, and open-access solar arrays combined with battery storage across major Indian commercial hubs saurenergy.comsaurenergy.comsaurenergy.comOpen source ↗. According to project estimates, the resulting infrastructure will generate 560 GWh of renewable electricity annually saurenergy.comsaurenergy.comsaurenergy.comOpen source ↗. The capacity is slated to decarbonize 227 commercial and industrial clients, 78% of which belong to the small and medium-sized enterprise (SME) category saurenergy.comsaurenergy.comsaurenergy.comOpen source ↗.
Candi Solar operates an engineering, procurement, construction, and long-term asset management framework. Customers access electricity via a shared-value model without upfront capital expenditure, paying solely for power generated under performance-linked contracts saurenergy.comsaurenergy.comsaurenergy.comOpen source ↗. This structure allows industrial consumers to offset grid volatility and reduce local diesel generator reliance.
Industrial emissions context
The financing structure focuses on an industrial tier that accounts for 31% of India's gross domestic product and 35% of its manufacturing output, according to partnership data saurenergy.comsaurenergy.comsaurenergy.comOpen source ↗. Data cited from Indian public policy think tank NITI Aayog indicates that domestic SMEs generate roughly 135 million tonnes of carbon dioxide equivalent in yearly emissions, primarily through fossil fuel consumption saurenergy.comsaurenergy.comsaurenergy.comOpen source ↗. Deploying on-site distributed generation directly addresses the heavy thermal reliance within this enterprise segment.
