new solar power
· Funds from this raise will support Candi to install solar arrays on 2-3 affordable housing developments in South Africa comprising 545 units.
1,450 tonnes CO2 saved every year
These new solar systems will replace high carbon grid electricity, much of which is generated coal-fired power stations.
Solar Power for Affordable Housing Developments in South Africa
Investments in the Candi 10 Bond offer will help create a positive social and environmental impact in the Limpopo, Gauteng and Kwazulu provinces of South Africa, by facilitating the delivery of solar panels for up to 3 affordable housing developments.
The clean electricity generated by the solar panels will power the residences, giving tenants in up to 545 residential units access to reliable and affordable energy without the need for fossil fuels.
The systems are expected to avoid approximately 1,450 tonnes of carbon emissions each year from entering the atmosphere.
About candi solar B.V
- Incorporated in July 2020
- candi Solar specialises in commercial and industrial (C&I) which is the type of solar installation and now extends this to also affordable housing
- Candi Solar has grown to 110 employees based across South Africa, India and Europe.
- It operates over 140 installations across South Africa and India, with an installed capacity of over 110 megawatts.
- These installations have mitigated an estimated 104,436 tonnes of CO2-equivalent emissions since 2018
- Candi will use the funds from the bond offer alongside institutional investments from impact investors including Norfund to provide the upfront funds to manufacture and install rooftop solar and energy storage.
Key Product Information
Issuer: Candi solar B.V.
Issuing Country: Netherlands
Investment target: £400,000
Minimum investment: £50
Maximum investment: No maximum
Maturity: 24 months
Expected interest rate: 6.25% per annum
Withholding tax rate: 0% (applicable to UK residents who do not invest within an IF ISA)
Interest payment frequency: 6 monthly
Capital repayment: 6 monthly
Financial instrument: Promissory note / secured interest bearing bond
Security: Secured (see details in the Offer Document)
Key Risks
This is a bond issued by a single company (rather than a savings product) and therefore it is recommended that you are careful with the amount you invest.
You must read the offer document (provided below) where a full statement of risks is presented.
Documents
Candi solar in the media
Candi solar B.V. is one of the pioneering solar companies supported by the Energise Africa initiative, a joint venture between Lendahand and Ethex.
What the project investment will enable
With the funds from this raise, candi will finance, procure and install tailor-made solar projects for one of the largest affordable housing developers in South Africa, with a potential combined 1-megawatt capacity. The developments served by the solar panels will provide sustainable power to affordable housing to low to medium Living Standards Measure individuals.
Due to increasing energy supply and quality issues in South Africa some of their developments have experienced weeks or months without electricity, so these off-grid developments will greatly improve lives through reliable energy supply.
Power generation in South Africa is dominated by coal with high carbon emissions. Moving to solar energy gives housing developments more reliable access to energy whilst also reducing the carbon footprint of their homes.
candi solar B.V
candi offers a fully financed rooftop solar solution to underserved SMEs in India and South Africa , allowing clients to immediately cut their electricity costs, reduce their reliance on grid and diesel power, and eventually own the system themselves.
With over 140 installations across South Africa and India, candi solar has an installed capacity of over 110 megawatts (MW) while mitigating estimated 104,436 tonnes of CO2-equivalent emissions since its inception in 2018.
Social and environmental impact
candi’s services impact several Sustainable Development Goals (SDGs), including SDG 7 (Affordable and Clean Energy), SDG 8 (Decent Work and Economic Growth), SDG 11 (Sustainable Cities and Communities), SDG 12 (Responsible Consumption and Production), and SDG 13 (Climate Action).
Social Impact
By providing tenants in affordable housing developments with access to reliable solar energy, candi is creating a positive impact on the lives of people in lower-income groups. Electricity supply in areas of South Africa is unreliable, with developments enduring power outages that last for weeks or even months. Candi is also providing access to jobs in the renewable energy sector in South Africa, contributing to a stronger economy.
43
tailor made solar infrastructure projects installed and operating in South Africa
31 MWp
total contracted capacity
23 MWp
installed in South Africa
Environmental impact
South Africa’s electricity generation is dominated by fossil fuels (coal). These projects will enable:
2-3
developments of affordable housing units to generate clean, solar energy
1,450 tonnes
reduction of CO2 each year
36,350 tonnes
total CO2 emissions avoided over 25 years, helping South Africa towards its net-zero transition
Offer Documents
Offer Document (Log In to download)