Husk Power Systems, a renewable utility company working towards rural electrification, designs, builds, owns and operates power plant and distribution network in India and Tanzania. It was founded in the year 2008 and started the much-needed rural electrification in the energy deficient state of Bihar through off-grid power generation and distribution solution.
It has received an equity investment worth $20 million to expand the renewable mini-grid business in Africa and Asia.
The investment has been provided by three entities: Shell Technology Ventures, Swedfund International (Swedish development finance institution) and ENGIE Rassembleurs d’Energies, (ENGIE group’s impact investment fund).
With the new investment, Husk endeavors to accelerate its contribution towards the development of an estimated $190 billion mini-grid market leading up to the year 2030 and is now confident of achieving its vision of becoming the world’s largest rural utility company providing 24/7, 100 percent renewable and affordable power to drive inclusive and sustainable development in growth markets.
CleanFuture had recently reported that about 63 solar micro grids totaling 1,899 kWp have been installed in India so far.