Husk Power is First to Cross 200 Minigrids Milestone Across Asia as well as Africa

Feb 27, 2023 04:55 PM ET
  • Industry pioneer currently balancing 16 new minigrids monthly.
  • It currently leads worldwide in regards to variety of tiny grids released.

Husk Power has become the initial business to have and also operate greater than 200 community solar minigrids in Asia and also Africa. it did this whole also as it balanced a rollout of 16 minigrids per month in recent months.

With this, the company has actually shown an ability to increase that was taken into consideration a huge block to the development of the distributed energy industry.

The two success follow closely on Husk's announcement in January 2023 of being the initial minigrid firm to achieve company profitability.

Taken with each other, the trifecta of industry milestones-- a profitable business model, a big portfolio of assets, as well as the ability to deploy minigrids in formerly undetected numbers-- are proof that the minigrid industry can scale rapidly currently.

The company made the formal announcement at an event in India's Uttar Pradesh state went to by government leaders, business partners and Husk executives, 16 new minigrids-- all of which were developed within a one month period-- were ushered in, taking Husk's portfolio over the 200 mark.

Husk anticipates to increase again its portfolio to 400 minigrids by the end of 2023. The understand just how and also experience will likewise benefit its procedures in Sub-Saharan Africa, including Nigeria, where the company already has 12 sites in operation, with prepare for up to 100 by 2023 and also 500 by 2026.

Manoj Sinha, Husk's Founder as well as chief executive officer, claimed, "These newest milestones confirm our confidence-- for Husk as well as for the industry all at once-- in scaling community solar minigrids and also making a significant contribution to achieving universal electrification in Asia and also Africa. It took Husk 4 years to grow 10X and get to 200 minigrids, and also we are now able to double our portfolio to 400 in just one year and also begin our following 10X trip."

In 2022, Husk became the very first and also only minigrid firm to authorize a UN Energy Compact, which included a dedication to constructing 5,000 minigrids by 2030 and also displacing nearly 3.2 billion litres of fuel for diesel generators, which presently dominate economic climates in Asia and also Africa.

According to a Minigrid Industry Roadmap released in 2022, rate of deployment "may be the most daunting obstacle" for the industry, keeping in mind that 10 companies with 10 times the existing maximum rate of release are required to achieve Sustainable Development Goal 7 (SDG7)-- access to modern-day, affordable, clean, trusted energy for all.

Since 2019, Husk has elevated $40 million ($25 million in equity as well as $15 million in affordable, lasting financial debt) and grew 10X in spite of being hit by Covid and also other global market interruptions, demonstrating effective deployment of funding as well as business resiliency.

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