Sunsure Energy secures Rs 226 Cr long-term debt financing from Tata Capital
The financing will be used to expand the renewable energy solutions provider’s open-access solar projects in Uttar Pradesh totalling 75 megawatt peak (MWp).
on Wednesday said it has secured a Rs 226 crore in long-term debt financing from Tata Capital, the financial services provider arm of Tata Sons.
The financing will be used to expand the renewable energy solutions provider’s open-access solar projects in Uttar Pradesh totalling 75 megawatt peak (MWp).
According to the company, the financing will be structured across five special purpose vehicles (SPVs) and will cover commissioned solar projects in Uttar Pradesh.
“This long-term financing from Tata Capital is a testament of Sunsure Energy’s commitment to providing acustomised suite of renewable energy solutions that contribute to India's transition towards green energy. This financing enables us to further scale up our portfolio of solar open-access projects in Uttar Pradesh and meet the demand for green energy in the state,” said Shashank Sharma, Founder, Chairman and CEO of Sunsure Energy.
Founded in 2014, Sunsure Energy provides renewable energy solutions to above 70 industrial companies, including Emcure and Dabur, across 16 states.
The company is backed by Partners Group with an equity commitment of $400 million and currently holds 500 megawatts (MW) of assets under operation and is targeting 5 gigawatts (GW) by the end of 2028.
“We are committed to advancing India’s clean energy sector through strategic financing. Our support for this project reflects our belief in the transformative potential of renewable energy in India. This partnership aligns with our goal of supporting impactful projects as we remain dedicated to foster a greener and more sustainable future,” said Manish Chourasia, Chief Operating Officer-Corporate and Cleantech at Tata Capital.
Edited by Megha Reddy