Dear valued stakeholder,
In Q2 2025, Husk launched a dedicated residential rooftop solar business in India, expanding its distributed energy resource (DER) platform to capture a 30GW household market.
Meanwhile, the International Finance Corp. (IFC) selected Husk as the first company in Nigeria to access an innovative revolving debt facility, which will allow Husk to more than double its portfolio of minigrids in the country. Husk also brought on a new CFO.
In addition, Husk has initiated a new process quality program that will be a game-changer in achieving scale and speed. And the company's sphere of influence continued to grow, surpassing 50,000 followers on LinkedIn.
Read on for more details, including recent media coverage.
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Manoj Sinha, Co-Founder & CEO
MARKET FOCUS
FC Regional VP Ethiopis Tafara, Husk Country Director Olu Aruike signing debt deal
Husk’s mission to democratize energy through distributed solar took a big leap forward in Q2 when the company launched BEEM, a dedicated residential rooftop solar service for India. Using an innovative e-commerce model, BEEM is targeting homeowners countrywide, leveraging Husk’s nearly two decades of expertise in solar system design, state-of-the-art technology, installation and service. BEEM’s AI-powered digital platform simplifies the entire homeowner journey for going solar, the same way the iPhone revolutionized mobile commerce 15 years ago.
Under the PM Surya Ghar Yojana scheme, the Indian government has targeted solar for 10 million households with a total of 30 gigawatt (GW) of installations by 2027. Until the scheme’s launch in 2024, residential solar had languished because of significant upfront investment, difficulty in sourcing credible suppliers, and complexity in decision making about product fit. At the same time, installation, cost, process and quality assurance continued to be barriers for potential buyers.
PM Surya Ghar Yojana’s subsidy, low-cost loans and 15-day simplified application process have created massive tailwinds for residential solar growth in India, but the industry remains slow-moving, fragmented, unstructured and mismatched to homeowners’ needs. BEEM not only addresses this mismatch, but does so at speed and scale. Additionally, through its partners, BEEM is offering attractive low-cost financing options and providing comprehensive support towards subsidy and net metering.
FINANCIAL OUTLOOK
In Q2, Husk secured a groundbreaking $5 million financing deal with the International Finance Corp. (IFC) to scale its operations in rural Nigeria. It marked the first investment under the IFC Distributed Access through Renewable Energy Scale-up (DARES) Platform, a $200 million debt facility to catalyze private sector solutions across West and Central Africa. IFC’s financing package will enable Husk to develop and operate up to 108 new minigrid sites, resulting in approximately 28,750 new electricity connections and delivering clean, affordable energy to around 115,000 people and businesses. Husk’s solar hybrid minigrids offer a cost-effective alternative to diesel generators, providing users with at least 25% in cost savings while significantly reducing greenhouse gas emissions. The total project cost was estimated at $25 million. IFC’s $5 million package includes a $2.5 million senior loan from its own account and a $2.5 million concessional subordinated loan from the Canada-IFC Renewable Energy Program for Africa. The facility is structured as a revolving loan, allowing Husk to repay and redraw funds multiple times during the project’s implementation.
Husk also appointed a new Chief Financial Officer (CFO), Janet Serrao Agarwal, who will play a pivotal role in shepherding Husk’s next phase of growth. Agarwal is a distinguished finance executive with over 20 years of leadership experience across diverse sectors including fintech, hospitality, energy and real estate, and multiple geographies, including North America, Asia and Europe.
INDUSTRY LEADERSHIP
Husk representative Grace Perkins at the LDC Future Forum in Lusaka
"If you can't describe what you are doing as a process, you don't know what you're doing." - W. Edwards Deming
An order of magnitude increase in scale and rate of deployment is a massive challenge for the distributed renewables industry in the Global South. Rapid market expansion across multiple geographies can only happen with scalable, interoperable, and well-aligned business processes. Which is why Husk has initiated a Process Quality program. The program is not just about operational efficiency—it’s about building a culture of clarity, speed, accountability and customer focus that enables Husk to scale well, not just fast.
Led by Manish Airan, our new Vice President of Process Quality, the program has already identified over 200 key business processes. We’ve begun strengthening interdependencies, clarifying responsibilities, and defining what excellence looks like across functions. By drawing on global best practices, we aim to drive continuous improvement and innovation across the organization. For example, one of the processes we're working on at the moment is the Customer Recharge Process for our minigrids, which enables homes and businesses to top up their credit and receive electricity. We've improved the customer experience by offering flexible, simple payment options, while maintaining financial integrity.
Husk aims to be ISO 9001 certified in the first half of 2026, providing important external validation that our implementation is deep and effective—not just documented but practiced actively on a daily basis and continually audited.
IN THE NEWS
Below are highlights of Husk's recent media coverage:
Check out the “AI Rising” podcast’s interview with Husk CEO Manoj Sinha
CNBC Africa interviews Husk about its $5 million IFC revolving debt facility
A Forum for the Future case study highlighted Husk’s impact on off-grid communities
Read more about the launch of BEEM from Solar Quarter
The Borgen Project spotlighted Husk’s fight on energy poverty in Africa
India’s Business Standard interviewed Husk CEO Manoj Sinha for their Manager’s Mantra segment
