Husk Power Systems bags $4 mn fund for India’s rural microgrids

25 Feb 2022 CW Team

On Tuesday Smart Power India said that their partner Husk Power Systems has secured the largest debt financing of $4 million for India’s rural microgrids to build 140 mini-grids in rural parts of India.

Husk Power Systems, partner of Smart Power India has secured the finance for the construction of 140 mini-grids for the encouragement of reliable access to electricity until the last mile.

The total amount received is $4 million from the Indian Renewable Energy Development Agency Limited (IREDA), the statement said.

The IREDA loan to Husk Power Systems is the biggest-ever debt financing for rural mini-grids in the country to date.

IREDA is a state-owned, Non-Banking Financial Institution (NBFI) under the administrative control of India’s Ministry of New and Renewable Energy (MNRE). It is involved in the promotion, development, and extension of financial assistance to renewable energy projects.

The 100th mini-grid of Husk Power Systems was a milestone on the path to achieving reliable electricity for all. Both the power companies have notably developed the off-grid power generation as well as distribution model in the country.

The end-to-end innovative and technology-led power solutions are equipped with the capacity for being replicated and sustained around the world.

Smart Power India CEO, Jaideep Mukherjee said that the mini-grid services continue to play an important part in the social and economic development of rural India. He congratulated Husk Power and the team for the commitment and perseverance they showcased to support the sector’s efforts to provide good quality power to the last mile.

Husk CEO and co-founder, Manoj Sinha said that the financing of IREDA demonstrates the Indian Government’s vision to make mini-grids an important part of the net-zero goal put forward at COP26.

Image Source

Also read: IREDA targets Rs 2,749 cr revenue in 2021-22

Infrastructure Urban

10 Mar 2026

ABB to Invest Rs 6.25 Billion to Expand India Manufacturing

ABB recently announced plans to invest approximately Rs 6.25 billion ($75 million) in India during 2026 to expand its manufacturing footprint and research and development capabilities. The investment follows more than $35 million spent in 2025 and reflects the company’s continued focus on strengthening its ‘local-for-local’ strategy in the country.The investment will support ABB’s Electrification, Motion and Automation businesses and expand manufacturing capacity for infrastructure sectors such as renewable energy, metro rail, data centres and industrial applications. Approximately 300..

Six WOLFF Cranes Handle 60,000 m³ Concrete for German Hospital

Six WOLFF tower cranes are playing a key role in constructing a new hospital complex in Memmingen, Germany, supporting large-scale material handling for the project. The facility is being built on a 7.7-hectare site and will feature six floors, around 480 beds and a gross floor area exceeding 75,000 sq m.Building shell works began recently in February 2025. One WOLFF 6531.12 Cross crane supported early site preparation before being dismantled in autumn 2025, while five remaining cranes continue operations. Over an average deployment period of 16 months, the cranes are expected to move approxim..

REC Funds Rs 115.6 Million CSR Support for Bihar Eye Hospital

REC recently committed Rs 115.6 million under its Corporate Social Responsibility (CSR) programme for the procurement of clinical and non-clinical equipment at Sankara Eye Hospital in Saharsa, Bihar. The initiative aims to strengthen healthcare infrastructure and improve access to specialised eye care services in the region.A Memorandum of Agreement (MoA) was recently signed between Pradeep Fellows, Executive Director (CSR), REC Limited, and Wg Cdr V. Shankar (Retd), Trustee and Executive Director of Sankara Eye Hospital, at the REC office in the SCOPE Complex, New Delhi.The support is expecte..