Husk Power Systems raises $20m from Shell, Swedfund, ENGIE to scale renewable mini-grid business

usk Power Systems, a rural distributed utility company operating mini-grids in Asia and Africa has raised $20 million equity investment led by Shell Technology Ventures with participation of Swedfund International and ENGIE Rassembleurs d’Energies to accelerate its growth to develop what the International Energy Agency estimates as a $190 billion mini-grid market leading up to 2030.

“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.“, said Manoj Sinha, CEO and co-founder of Husk Power Systems. “We believe that mini-grids are the most capital efficient way to help reach 100 percent national electrification goals“.

https://techmoran.com/2018/01/20/husk-power-systems-raises-20m-shell-swedfund-engie-scale-renewable-mini-grid-business-africa-asia/