Candi Solar, a Swiss-founded clean energy company, has raised $24 million in fresh fundingfrom its existing investors. The rise included a $20 million convertible loan from Norfund and STOA, and a $4 million top-up from EEGF to support expansion in core markets and enhance solar asset performance offerings.This brought total capital raised to over $140 million. In the past year, Candi added 60 MW, including a 16.5 MW project in Gujarat. Its contracted capacity reached 132 MW across 22 Indian states and eight South African provinces. Candi was ranked among India’s top three rooftop solar developers in 2024. It launched Solar Refi and Solar Protect+ to manage underperforming assets and offer refinancing. The company’s model ties revenue to long-term system performance. Investors cited operational growth and portfolio expansion as reasons for renewed support. Candi is preparing a high double-digit Series D round in 2026 to scale further in emerging markets.