Don’t invest unless you’re prepared to lose all the money you invest. This is a high - risk investment and you are unlikely to be protected if something goes wrong. Take 2 mins to learn more

Don’t invest unless you’re prepared to lose all the money you invest. This is a high - risk investment and you are unlikely to be protected if something goes wrong. Take 2 mins to learn more

Candi Solar B.V Issue 5: South Africa - 5.75% Bond

18 months to mature 5.75% interest

candi solar B.V Issue 5: South Africa - 5.75% Bond



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invested 241 KWp

Candi will use funds from this raise to install approximately 241 KWp capacity of solar panels.

households 1 SME

Funds from this raise will provide one small and medium sized enterprise (SME) with clean and affordable energy.

Founded in January 2018, candi is a dedicated rooftop solar installer, financier and operator for underserved small and medium sized businesses (SMEs) in South Africa and India.

It brings together international capital, through its Swiss-based parent, and local expertise in order to serve this underserved sector. In doing so candi aims to reduce carbon emissions, create jobs, increase energy access and save money for businesses, thereby releasing capital for more productive use in the economy.

About candi solar B.V

  • Incorporated in January 2018
  • Since commencing operations, they have contracted or commissioned approximately than 30MW of rooftop solar across 65 sites
  • Turnover in 2020: $915,000
  • Has 49 direct employees and operations in South Africa, India, Switzerland and the Netherlands
  • Head offices in Zurich, Switzerland
  • Aim to install 100 MW of rooftop solar in the next three years across the SME sector
  • Supported by Persistent, Energy Access Ventures and the Gaia Impact Fund.
  • Key Product Information

    Issuer: Candi solar B.V.

    Issuing Country: Netherlands

    Investment target: £150,000

    Minimum investment: £50

    Maximum investment: No maximum

    Maturity: 18 months

    Expected interest rate: 5.75% per annum

    Withholding tax rate: 0% (applicable to UK residents who do not invest within an IF ISA)

    Interest payment frequency: 6 monthly

    Capital repayment: 6 monthly (from 12 months onwards*)

    Financial instrument: Promissory note / secured interest bearing bond

    Security: Secured (For more information regarding security, see page 27 of the Offer Document)

    *For the first 12 months after the Issue Date, a "Grace Period" applies during which no capital repayments occur. The first capital repayment will take place 12 months after the Issue Date. Please refer to the amortization schedule found on Page 16 of the offer document.

    Key Risks

    This is a bond issued by a single company (rather than a savings product) and therefore it is recommended that you are careful with the amount you invest.

    You must read the investment memorandum (provided below) where a full statement of risks is presented.


    Candi solar in the media

    What the project investment will enable

    With the funds from this raise, candi will finance, procure and install one tailor made solar infrastructure project of upto 241KWp solar capacity into lease with an SME in South Africa. 

    Since its incorporation, candi has built a portfolio of more than 30MW and has a predicted pipeline of a further 100MW of installations across South Africa and India. As well as installing these systems for their clients, candi also provides technical advice and operation and maintenance support, providing their clients with a holistic solution to their systems. All the company’s equipment is certified and sourced from tier 1 suppliers across the value chain, including Jinko Solar, Trina Solar and SMA Solar Technology.

    Examples of some of the SMEs who are clients of candi include food manufacturers, media outlets as well as schools and universities. These clients are typically situated in areas with high power tariffs, dense industrial clusters, and where there is an unreliable power grid. Access to client's own electricity supply greatly reduces the risk of black outs and candi's multiple contractual structures means clients can choose based on their own needs and financial position.

    candi solar B.V

    candi offers a fully financed rooftop solar solution to underserved SMEs in South Africa, allowing clients to immediately cut their electricity costs, reduce their reliance on grid and diesel power, and eventually own the system themselves.

    This investment will empower the SMEs through a fully financed rooftop solar solution, cutting their operating costs and allow them to inject the savings back into their operations e.g. to create jobs, finance schoolbooks & playground, purchase IT equipment and make refurbishments.

    Social and environmental impact

    The installation of solar plants for small and medium-sized enterprises (SMEs) has shown to have both a significant impact on the companies and the environment. To date, candi has contracted and/or commissioned approximately 30MW in projects across 65 different sites (12.3MW in delivery).

    Social Impact

    Social Impact

    The positive impact of addressing this market gap is immense. The social impact that candi has made to-date is:


    tailor made solar infrastructure projects installed


    total installed/commissioned capacity to date


    full time employees at candi

    Environmental Impact

    Environmental impact

    The environmental impact of installing the full 241kWp capacity from this raise will be:


    new SME utilising clean energy

    344 tonnes

    reduction of CO2 each year per system


    total CO2 emissions offset over 25 years

    • pdf

      Offer Documents

      Candi solar B.V. Issue 5: South Africa - Offer Document (Log In to download)


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