Simpa Networks secures $400 million debt facility for electricity services in India

By Lisa Kerner

Charlotte, N.C., Dec. 17 – Simpa Networks completed a $4 million debt financing with Overseas Private Investment Corp., the U.S. Government’s development finance institution, and GDF Suez through its Rassembleurs d’Energies program.

The debt facility will enable Simpa to reach 200,000 people in rural India with clean, reliable electricity services, according to a news release.

“This new debt investment, the first of its kind in India, will help us scale our for-profit solution to the problem of energy poverty,” said Simpa president and co-founder Paul Needham in the press release. “It validates our model and proves a pathway to mobilize commercial debt capital at scale.”

Simpa Networks operates in India as Simpa Energy India. The Bangalore-based company pioneered the solar-as-a-service business model.

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