Husk Power Systems Receives US$ 4.2 Million to Set Up 140 Microgrid Projects

Patna-based Husk Power Systems, established in 2008, has received a debt-finance of US$ 4.2 million (INR 31 Cr) from the India Renewable Energy Development Agency (IREDA). IREDA is a Non Banking Financial Institution (NBFI) under Ministry of New and Renewable Energy (MNRE).

Husk Power Systems will use this amount to set up 140 clean energy microgrids in rural India. A ‘microgrid’ in this context refers to a renewable energy generator with capacity less than 10KW. The company targets reliable last-mile accessibility of energy in rural areas. Husk Power Systems currently has more than 120 energy generation sites in India with an aggregate capacity of 3.6 MW.

Other than this, they also have energy generation sites in Nigeria and Tanzania. In total, Husk Power Systems has over 130 active energy generation sites, and 23 sites are under construction. The company has set target of increasing this number ten times by 2025.