Candi
Candi Solar AG is a Swiss-headquartered distributed energy platform that finances, installs, and operates rooftop solar and battery storage systems for commercial and industrial customers in India and South Africa, using long-tenor PPAs and zero-upfront-cost contracts.
- Company typePrivate
- Founded2017
- HeadquartersZürich, Switzerland
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Candi does
Candi Solar AG is a Swiss-headquartered distributed energy platform that finances, installs, owns, and operates rooftop solar PV, ground-mount, and carport systems paired with battery energy storage for commercial and industrial customers in India and South Africa. The company's core technology stack combines distributed solar and lithium BESS assets with a Digital Asset Management Platform that ingests 40 data points per device every 5 minutes, uses machine learning and IoT for predictive maintenance, and is supplemented by proprietary panel-cleaning innovations including a hydrophobic coating and an automatic sprinkler system. The platform is anchored by approximately 225 MWp of contracted capacity across 170+ installations, including enterprise customers such as Airtel, Schneider Electric, IFF, Jindal Saw, and Suryalakshmi Cotton Mills.
Candi generates revenue primarily through long-tenor Power Purchase Agreements (10-25 years) in which it owns the system and sells electricity per kWh to the customer at no upfront cost. This PPA model is complemented by Performance-Linked Loans, Performance-Linked Instalment Sales, and Solar Leases that preserve the risk-transfer structure, and by adjacent services - Solar Refi and Solar Protect+ - that target customers who already own underperforming solar assets. The company reaches customers through dedicated field sales teams in 5 Indian cities and 3 South African cities, a vetted EPC contractor network, a partner portal, and a Solar Ambassador referral program, and it has cumulatively raised over $140M from development finance institutions (IFC, BIO, responsAbility, Norfund, Kyuden International, STOA) to underwrite its zero-upfront-cost, zero-risk proposition.
Candi firmographics
Firmographics- Name
- Candi
- Legal name
- Candi Solar AG
- Website
- https://candi.solar
- Company type
- Private
- Founded year
- 2017
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Candi Solar AG is a Swiss-headquartered distributed energy platform that finances, installs, and operates rooftop solar and battery storage systems for commercial and industrial customers in India and South Africa, using long-tenor PPAs and zero-upfront-cost contracts.
- Ownership category
- akta.pro rank
Candi industry classification
Industry- Product category
- Commercial Solar Energy Services
- NAICS
- Solar Electric Power Generation (221114)
- SIC
- Electric, Gas & Sanitary Services (4900)
- akta.pro primary industry
- Utility-Scale BESS Project Development & Ownership (IPP/Developer) (EUAFAAAA)
- akta.pro secondary industries
- BESS Operations, Maintenance & Asset Performance Management (APM) (EUAFAAAG), BESS Financing, Insurance & Contracting (Tax Equity, PPA/Tolling, Warranties) (EUAFAAAI), BESS Market Participation & Trading Services (Ancillary/Capacity/Arbitrage) (EUAFAAAL), C&I Demand Response & Flexibility Procurement (Curtailment, Load Management) (EUAGACAI)
Keywords
Where Candi is headquartered
LocationHeadquarters
- HQ city
- Zürich
- HQ country
- Switzerland
- HQ region
- Europe
Offices10 records
Markets served
Candi business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Technology or R&D, Personnel, Supply Chain, Operations, Marketing or Sales, Infrastructure
Revenue model
- Power Purchase Agreements (PPA): Candi owns and maintains the solar system, selling power to the customer at an agreed tariff per kWh. Customer pays only for electricity generated. Typical contract terms of 20-25 years. Can be structured to transfer ownership typically over 5-15 years.
- Performance-Linked Loan (PLL): Customer purchases solar system through loan from Candi, with repayment linked to system performance. Candi maintains system at zero cost until paid off. Similar to PPA but potentially more tax efficient for accelerated depreciation benefits.
- Performance-Linked Instalment Sales (PLIS): Customer purchases system from Candi paying in installments linked to system performance. Candi maintains system at zero cost until fully paid off.
- Solar Lease: Rent-to-own financial agreement allowing customers to avoid upfront costs while gradually acquiring ownership of the solar system.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Usage-based | Pay-as-you-go | Power Purchase Agreement (PPA) |
| Outcome Based/ Performance | Multi-year contract | Performance-Linked Loan (PLL) |
| Outcome Based/ Performance | Annual | Solar Protect+ |
| Hybrid | Multi-year contract | Solar Refi |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels5 records
Candi product offering
Product offeringCore offering
Candi Solar designs, finances, owns, and operates distributed rooftop, ground-mount, and carport solar PV systems with integrated Battery Energy Storage Systems (BESS) for commercial and industrial businesses in India and South Africa. Under its shared-value model, Candi provides 100% financing with zero upfront cost and sells electricity to customers under Power Purchase Agreements (PPAs), Solar Leases, and Performance-Linked Loans, retaining all operational, financial, and maintenance risk for 10-25 year contract terms.
Product overview
Candi Solar operates as a distributed energy platform offering end-to-end solar and battery solutions for commercial and industrial businesses in India and South Africa. The core offering is a shared-value financing model where Candi provides 100% financing with zero risk to customers. The product portfolio centers on Power Purchase Agreements (PPAs) as the primary engagement model, supplemented by financing alternatives including Solar Refi, Solar Protect+, Battery Energy Storage Systems, Performance-Linked Instalment Sales, Performance Linked Loans, Solar Leases, and Microgrid Solutions. This modular approach allows Candi to serve businesses of varying sizes with flexible finance and performance solutions.
Differentiator
Problem solved
Functional benefit
Brands
- Solar Refi: Refinance existing solar systems, unlock capital, and hand over performance and risk to Candi Solar for management, monitoring, and maintenance.
- Solar Protect+
- Solar Protect+
Products and services
- Power Purchase Agreement (PPA)
Quantifiable outcome
- Up to 80% reduction in monthly electricity bills
- +5 more outcomes
Companies that use Candi
Customer profileNamed customers18 records
Segments2 records
Ideal customer profiles2 records
Candi technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
Candi partnerships and signals
Strategic signalScale indicators16 records
Recent moves6 records
Expansion highlights6 records
Candi competitors and assessment
Company assessmentDirect peers
- Fourth Partner Energy: India's largest C&I rooftop solar PPA provider (acquired by Reliance); offers zero-upfront solar-as-a-service to commercial and industrial customers across India — virtually identical business model and customer base to Candi's Indian operations.
- Cleantech Solar: Asia-focused C&I solar PPA platform operating across India, Southeast Asia and Australia; competes head-to-head with Candi on enterprise C&I customers with similar zero-upfront, performance-based financing structures.
- SunSource Energy: Indian C&I rooftop solar developer providing PPA and EPC solutions to commercial and industrial customers; directly comparable in target segment, geography, and distributed solar value proposition.
- Freyr Energy: Indian rooftop solar provider focused on SMEs and C&I customers, offering subscription and PPA-style financing; competes with Candi's SME segment with similar distributed-solar-plus-financing model.
- Yellow (ENGIE): South African C&I solar and battery provider (acquired by ENGIE), serving commercial customers with PPA financing; the closest direct competitor to Candi in the South African market.
- AmpereHour Energy: India-based C&I battery energy storage and microgrid provider; comparable to Candi's BESS and microgrid product lines in serving Indian C&I customers.
- Distributed Energy (EDF): South African distributed solar and battery provider (backed by EDF), offering C&I customers PPA-style financing; directly comparable to Candi's South African C&I operations.
Emerging players
- Sun King: Pay-as-you-go distributed solar provider across sub-Saharan Africa and South Asia; partial overlap as both target emerging-market energy access via distributed solar, though Sun King focuses on residential/SMB customers rather than enterprise C&I.
- Husk Power Systems: Distributed solar hybrid mini-grid operator in India and sub-Saharan Africa; adjacent business model (distributed energy + financing for emerging markets) with overlap on geography and customer pain points.
Broad incumbents
- Avaada Energy: Large Indian renewable energy IPP with utility-scale solar, wind and storage; overlaps with Candi on the Indian solar/IPP axis but operates at significantly larger scale and a different (utility) customer segment.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks1 record
Key highlights7 records
Customer concentration
Candi social profiles
Digital presenceCandi financial estimates
Financial estimateRevenue estimate
Valuation estimate
Candi leadership team
Management profileNumber of profiles
Profiles13 records
Candi funding detail
Funding detailFunding overview
Funding rounds12 records
Investors11 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Candi M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Candi
What does Candi do?
Candi Solar designs, finances, owns, and operates distributed rooftop, ground-mount, and carport solar PV systems with integrated Battery Energy Storage Systems (BESS) for commercial and industrial businesses in India and South Africa. Under its shared-value model, Candi provides 100% financing with zero upfront cost and sells electricity to customers under Power Purchase Agreements (PPAs), Solar Leases, and Performance-Linked Loans, retaining all operational, financial, and maintenance risk for 10-25 year contract terms.
Is Candi a public or private company?
Candi is a private company. It is classified as venture growth investor backed and is currently operating.
When was Candi founded?
Candi was founded in 2017. It employs 1 to 10 people.
Where is Candi based?
Candi is headquartered in Zürich, Switzerland, in the Europe region.
How does Candi make money?
Four revenue lines are on record. Power Purchase Agreements (PPA) is the primary driver. The others are performance-Linked Loan (PLL), performance-Linked Instalment Sales (PLIS) and solar Lease.
Who are Candi's main competitors?
Direct peers on record are Fourth Partner Energy, Cleantech Solar, SunSource Energy, Freyr Energy, Yellow (ENGIE), AmpereHour Energy and Distributed Energy (EDF). Emerging players are Sun King and Husk Power Systems. Avaada Energy is listed as a broad incumbent.
Does Candi have an API?
No public API is recorded for Candi.
What industry is Candi in?
Candi's product category is Commercial Solar Energy Services. Its primary akta.pro industry code is EUAFAAAA, Utility-Scale BESS Project Development & Ownership (IPP/Developer), with a secondary code of EUAFAAAG, BESS Operations, Maintenance & Asset Performance Management (APM). Its NAICS code is 221114 and its SIC code is 4900.