HUSK POWER SYSTEMS, INC.
Status: Approved investmentWhy disclosure?
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In case of questions
In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Husk Power Systems (“Husk”) is a diversified rural energy services business, underpinned by renewable energy minigrids and augmented by solar rooftop C&I installation, energy efficient devices (EED) sales and financing, and additional services such as solar irrigation.
What is our funding objective?
The key objective of The Project is to (i) fully automate operations of minigrid sites to achieve the lowest cost of delivered energy and highest uptime possible by introducing machine learning based forecasting of energy demand and generation (ii) convert all customer transactions (including purchase of EEDs) to digital payment.
Why do we fund this investment?
This project supports Husk to provide reliable, affordable and clean energy access for both productive, commercial and residential use in rural areas in developing markets. This is firmly in line with FMO’s ambitions to promote inclusive and green development and economic growth in rural areas in developing markets.
More investments
| Date | Total FMO financing |
|---|---|
| 10/20/2023 | USD 2.00 MLN |
| 12/20/2018 | USD 5.08 MLN |
- Website customer/investment
- http://www.huskpowersystems.com
- Country
- Global
- Sector
- Energy
- Effective date
- 7/15/2022
- Total FMO financing
- EUR 0.14 MLN
- Funding
- Building Prospects
-
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B