Husk Power Systems Seeks $400 Million to Drive Major Revenue Surge.

Husk Power Systems, the world’s largest operator of solar mini-grids, has launched an industry-record $400 million capital raise as it targets a tenfold increase in revenue by 2030 and lays the groundwork for a future initial public offering.

The company currently runs about 400 mini-grids across India and Nigeria and aims to deepen its presence in both markets while expanding into additional African countries, including the Democratic Republic of Congo and Madagascar. Beyond mini-grids, Husk also deploys rooftop solar systems and sells energy-efficient appliances. The firm has set a goal of installing at least 2 gigawatts of capacity by 2030.

“We kick-started the process as of last week,” said Manoj Sinha, Husk’s co-founder and chief executive officer, in an interview. “Our goal is to get the money by June of 2026.”