Mini-grid firm Husk to raise $400 mn

HUSK POWER SYSTEMS, the world's biggest solar mini-grid operator, has begun an industry-record capital raise of $400 million as it seeks to grow revenue tenfold by 2030 and prepare for an initial public offering.

- ANTONY SGUAZZIN

The company operates about 400 mini-grids in India and Nigeria and plans to expand further in those countries as well as others in Africa such as the Democratic Republic of Congo and Madagascar. Husk, which also installs rooftop solar and sells energy-efficient appliances, has set a target of at least 2 gigawatts of installations by 2030. "We kick-started the process as of last week," Manoj Sinha, the company's co-founder and chief executive officer,