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Sunsure Energy has raised INR 606.22 crore in debt financing from Aseem Infrastructure Finance Limited and RBL Bank to support multiple solar projects across Maharashtra and Uttar Pradesh. The funds will back over 242 MWp of solar capacity, producing around 300 million units of clean electricity annually and reducing nearly 230,000 tonnes of CO emissions each year. The projects will supply renewable energy to commercial and industrial consumers through long-term Power Purchase Agreements. The financing also marks the start of Sunsure Energy's project funding relationship with RBL Bank while strengthening its ongoing partnership with Aseem Infrastructure Finance.
Sunsure Energy, a leading Round-the-Clock renewable energy solutions provider in India, has secured a total of INR 606.22 crore in debt financing for its renewable energy projects. The package includes INR 461.76 crore from Aseem Infrastructure Finance Limited for solar initiatives in Maharashtra and Uttar Pradesh, along with INR 144.46 crore in refinancing from RBL Bank for its solar project in Augasi, Uttar Pradesh. Advertisement
The financing will support more than 242 MWp of solar capacity, delivering renewable energy to commercial and industrial customers through long-term Power Purchase Agreements (PPAs). These projects are expected to generate nearly 300 million units of clean electricity annually, contributing to a reduction of around 230,000 tonnes of CO emissions each year, according to the latest CEA grid emission factor.
The solar projects aim to provide reliable and cost-effective green energy to commercial and industrial consumers, enabling them to transition to sustainable power sources. The financing also initiates Sunsure Energy's collaboration with RBL Bank on project funding, while continuing its established partnership with Aseem Infrastructure Finance.
Shashank Sharma, Founder, Chairman, and CEO of Sunsure Energy, highlighted that the company's approach to powering India's businesses with round-the-clock renewable energy is shaped by an understanding of state-specific demand, regulatory conditions, and technical factors. He mentioned that the Maharashtra and Uttar Pradesh projects are central to Sunsure's Ujjwal Maharashtra and UP Shakti missions, reinforcing the company's efforts to decarbonise the commercial and industrial energy sector. As the company expands into key industrial regions including Maharashtra, Tamil Nadu, Rajasthan, Karnataka, and Uttar Pradesh, securing long-term institutional capital remains essential for developing high-quality renewable assets. He added that institutions such as Aseem Infrastructure Finance and RBL Bank continue to trust Sunsure Energy's asset quality and execution capabilities.
Founded in 2014, Sunsure Energy is recognized as India's preferred Round-the-Clock renewable energy solutions provider for major businesses and utilities. The company operates as an Independent Power Producer (IPP), offering corporations the opportunity to offset up to 100% of their electricity needs with renewable energy sourced from solar, wind, and battery storage systems through long-term PPAs. Backed by Partners Group AG with an equity commitment of USD 400 million, Sunsure currently manages 700 MW of operational assets and 7.10 GW under various stages of development across Maharashtra, Uttar Pradesh, Tamil Nadu, Rajasthan, and Karnataka, with a target of reaching 10 GW by 2030.
Source PTI
FAQ
Q1: How much financing has Sunsure Energy secured and from whom?
A1: Sunsure Energy has raised a total of INR 606.22 crore in debt financing. This includes INR 461.76 crore from Aseem Infrastructure Finance Limited for solar projects in Maharashtra and Uttar Pradesh, and INR 144.46 crore from RBL Bank for refinancing its Augasi solar project in Uttar Pradesh.
Q2: What projects will this financing support?
A2: The financing will support over 242 MWp of solar capacity across Maharashtra and Uttar Pradesh. The projects will deliver renewable energy to commercial and industrial consumers through long-term Power Purchase Agreements (PPAs).
Q3: What are the expected environmental benefits of these projects?
A3: The solar initiatives are expected to generate nearly 300 million units of clean electricity annually and reduce approximately 230,000 tonnes of CO emissions each year.
Q4: How does this financing strengthen Sunsure Energy's banking partnerships?
A4: The financing marks Sunsure Energy's first project funding collaboration with RBL Bank while continuing its ongoing relationship with Aseem Infrastructure Finance, reinforcing confidence in the company's asset quality and project execution capabilities.
Q5: What is the strategic significance of these projects for Sunsure Energy?
A5: These projects are central to Sunsure's Ujjwal Maharashtra and UP Shakti missions, helping decarbonise the commercial and industrial energy sector and expanding the company's presence in key industrial regions including Maharashtra, Tamil Nadu, Rajasthan, Karnataka, and Uttar Pradesh.
Q6: What is Sunsure Energy's overall capacity and growth target?
A6: Sunsure Energy currently manages 700 MW of operational renewable assets and 7.10 GW under development across multiple states. The company aims to reach 10 GW of renewable energy capacity by 2030.
Q7: Who are the major investors backing Sunsure Energy?
A7: The company is backed by Partners Group AG, which has committed USD 400 million in equity support, providing a strong foundation for large-scale renewable energy development.
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