Husk Power Systems said today that it has raised USD 20 million (over Rs 127 crore) to scale its renewable mini-grid business both in Asia and Africa.
The USD 20 million equity investment has been made by “Shell Technology Ventures LLC, Swedish development finance institution Swedfund International and ENGIE Rassembleurs d’Energies, ENGIE group’s impact investment fund”, the company said in a statement.
Husk Power designs, builds, owns and operates one of the world’s lowest-cost hybrid power plants and distribution network in India and Tanzania, the statement said.
It provides power to rural communities and businesses, entirely from renewable energy sources.
Husk Power co-founder and CEO Manoj Sinha said: “Together with our strategic partners, we are now confident of achieving our 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.”
Sarita C Singh has been a regular contributor to indiatimes