Husk Power Systems, Inc.
Introduction
Husk Power Systems is a rural electrification company that designs, builds and operates mini-grids in India and Nigeria.
Swedfund's investment enables increased access to electricity for small businesses and households through complementary solar energy solutions outside the regular grid in countries where the electricity grid is not fully developed or is unreliable. The investment contributes to sustainable economic development in countries with limited access to electricity.
Co-investors include STOA, DFC, Proparco, FMO.
Read more in our press releases:
Swedfund invests additional USD 5 million in Husk Power Systems to support energy access in Nigeria and India
Facts
SDG in focus
No Poverty
End poverty in all its forms everywhere.
Gender Equality
Achieve gender equality and empower all women and girls.
Reduced Inequalities
Reduce inequality within and among countries.
Climate Action
Take urgent action to combat climate change and its impacts.
Sector
Energy & Climate
Access to renewable energy is a crucial factor for economic growth and poverty reduction. Today, around 750 million people lack access to electricity, three quarters of whom live in sub-Saharan Africa and the least developed regions of Asia.
Value creation
Our Impact
The investment contributes to increased production and access to electricity, reduced carbon emissions and the implementation of international sustainability standards in the sector. The investment is expected to increase women’s economic empowerment by favouring women as leaders and on boards. Furthermore, the investment is expected to contribute to jobs and other income-generating opportunities locally.
ESG
Swedfund's focus is on the continued development of the company's environmental and social management system. Other prioritised sustainability issues are gender equality, resource and waste management and a supply chain management system. We are also working with the company to further strengthen its anti-corruption management system.
Additionality
Our investment is financially additional as it is made in a difficult context where access to capital is limited, poverty rates are high and the business climate is challenging. The investment is further expected to help mobilise capital. The investment is value additional through a strong focus on active value creation during the investment phase, including environmental, sustainability, corporate governance and anti-corruption issues.
Previous investments
In 2017 Swedfund invested 5 MUSD
In 2023 Swedfund increased its investment with 5 MUSD