Nishant Sood (Candi Solar)
Overview
Nishant Sood is a prominent figure in the renewable energy sector, primarily known for his role as the Managing Director of Candi Solar in India. Candi Solar focuses on distributed solar solutions for commercial and industrial enterprises. Under Sood's leadership, the company has gained a reputation for transforming India's solar energy landscape by offering innovative and flexible financing models. Sood's transition from the finance industry to renewable energy underscores his strategic insights and commitment to sustainable development. His work centers on harnessing solar power to reduce operational costs and enhance sustainability for businesses in India and South Africa.
Recent Developments
In recent years, Nishant Sood and Candi Solar have been involved in significant developments, reflecting the growing importance and impact of solar energy.
- November 2025: Candi Solar secured $58.5 million in funding led by the International Finance Corporation (IFC), a member of the World Bank Group. This funding round marks the largest for Candi Solar to date, bringing their total capital raise to over $200 million. The funds are earmarked for expanding distributed solar projects in India and South Africa, directly financing approximately 200 megawatts-peak (MWp) of new projects (PV Magazine India, StartupNews).
- July 2025: Candi Solar raised an additional $24 million from existing shareholders, including a $20 million convertible loan from Norfund and STOA, and a $4 million top-up from the Energy Entrepreneurs Growth Fund (EEGF). This funding was intended to expand Candi Solar's reach in the commercial and industrial sector across India and South Africa (StartupNews).
- January 2025: Sood revealed in an interview that Candi Solar's operational capacity had increased to over 120 MWp across India and South Africa. The company introduced innovative financing and insurance models, including performance-linked loans and generation insurance, to ensure efficient solar asset performance (Renewable Watch).
Personal Information
| Attribute | Information |
|---|---|
| Full Name | Nishant Sood |
| Born | Unknown |
| Nationality | Indian |
| Occupation | Managing Director, Candi Solar |
| Known For | Leadership in the solar energy sector in India |
| Education | IIT Delhi (Mechanical Engineering), IIM Calcutta (MBA) |
Early Life and Education
Nishant Sood's professional journey began with a solid educational background in engineering and finance. He graduated from the Indian Institute of Technology, Delhi, with a degree in Mechanical Engineering. Following this, he pursued an MBA in finance from the Indian Institute of Management, Calcutta, graduating in 2008. Sood's early career was marked by his involvement in the finance sector. He began working with notable firms like Merrill Lynch, Morgan Stanley, and Edelweiss Capital, focusing on capital markets covering credit, equity, and structured products. However, his true calling lay elsewhere. By 2014, Sood realized a growing desire to shift from finance and build something more tangible, which led him to the renewable energy sector.
Career and Notable Achievements
Nishant Sood's career in the renewable energy sector began after a successful stint in finance. His achievements at Candi Solar have been pivotal in reshaping the solar energy landscape in emerging markets.
- Transition to Solar: After an extensive career in finance, Sood pivoted to solar energy, driven by the potential to make a tangible impact in sustainability.
- Founding Candi Solar: He co-founded Candi Solar, a distributed energy platform focused on commercial and industrial solar solutions in India and South Africa.
- Growth and Leadership: Under his leadership, Candi Solar's portfolio expanded significantly, achieving 220+ MWp in project capacity. His innovative use of development funds from Zurich to support projects in India and South Africa has been widely recognized.
- Innovative Models: Sood introduced innovative business models, such as simplified Power Purchase Agreements (PPAs) and performance-linked loans, allowing broader access to solar power for SMEs (Saur Energy).
Current Work and Impact
Currently, Nishant Sood serves as the Managing Director at Candi Solar, overseeing operations in India and South Africa. His work is instrumental in advancing the adoption of distributed solar solutions, reducing carbon footprints, and improving energy efficiency for businesses. Sood's efforts align with global sustainability goals, particularly in emerging markets, underscoring his lasting impact on the renewable energy sector.
Conclusion
Nishant Sood's strategic direction and leadership in Candi Solar have significantly contributed to the proliferation of solar energy solutions in India and South Africa. His initiatives underscore the immense potential of solar energy in reducing operational costs and enhancing sustainability for businesses. As Candi Solar continues to expand its footprint with innovative financing and operational models, Sood's legacy in promoting sustainable energy solutions promises to leave a lasting impact on the commercial and industrial sectors across emerging economies. His work exemplifies the transformation within the renewable energy industry, positioning solar power as a cornerstone of clean energy transition globally.