Sunsure Energy has secured INR 128.82 crore in long-term debt financing to support its solar project in Augasi, Uttar Pradesh. The funding, provided by Tata Capital and Aditya Birla Finance Limited, will help build a 49 MWp open-access solar plant. This project will generate 72 million units of clean energy annually, reducing carbon emissions by 1.3 million metric tonnes.
Sunsure is also developing a 150 MWp solar park in Solapur, Maharashtra, backed by INR 416.35 crore financing from Aseem Infrastructure Finance. These projects strengthen Sunsure’s role in India’s renewable energy transition, helping industries switch to green power.
What is Sunsure Energy?
Sunsure Energy is a renewable energy company based in India that develops, owns, and operates solar and wind energy projects. Founded in 2014, it provides green power solutions to businesses through long-term Power Purchase Agreements (PPAs).
As an Independent Power Producer (IPP), Sunsure helps companies transition to clean energy by supplying renewable electricity from solar, wind, and battery storage projects. The company is backed by Partners Group AG, with an equity commitment of $400 million, and aims to build 5 GW of renewable energy capacity by 2028. It serves both industrial clients and utility offtakers like SECI and SJVN.
Why is This Funding Significant?
This funding strengthens Sunsure Energy’s position as a key player in India’s renewable energy sector while supporting the country’s transition to green power. The INR 128.82 crore financing for the 49 MWp solar project in Augasi and INR 416.35 crore for the 150 MWp solar park in Solapur will significantly expand Sunsure’s clean energy portfolio.
These projects will not only boost renewable energy capacity but also contribute to sustainability by reducing carbon emissions—1.3 million metric tonnes for the Augasi plant and 163,000 tonnes annually for the Solapur project. Additionally, Sunsure’s long-term Power Purchase Agreements (PPAs) will help major industrial clients transition to clean energy, reducing their dependence on fossil fuels.
The funding from Tata Capital, Aditya Birla Finance, and Aseem Infrastructure Finance also highlights strong investor confidence in Sunsure’s ability to scale up its operations. By accelerating the adoption of renewable energy, these projects align with India’s ambitious goal of achieving 50% non-fossil fuel capacity and reducing carbon intensity by 45% by 2030.
This financial backing will not only drive Sunsure’s growth but also contribute to India’s clean energy future.
How Will the Funds Be Used?
The funds will be used to develop and expand Sunsure Energy’s renewable energy projects in India. The INR 129 crore financing from Tata Capital and Aditya Birla Finance Limited will support the construction of a 49 MWp open-access solar plant in Augasi, Uttar Pradesh. This plant will generate 72 million units of green energy annually and reduce 1.3 million metric tonnes of carbon emissions over its lifetime.
Additionally, the INR 416.35 crore funding from Aseem Infrastructure Finance Limited will help develop Sunsure’s 150 MWp solar park in Solapur, Maharashtra. The first phase of this project is already operational and supplying clean energy to major industrial customers. The full plant is expected to be commissioned by March 2025.
These funds will also support Sunsure’s broader 270 MWp renewable energy portfolio in Uttar Pradesh and strengthen its role in India’s green energy transition by helping businesses switch to sustainable power sources.
Founders’ Perspective
Shashank Sharma, the Founder, Chairman, and CEO of Sunsure Energy, emphasized how the funding will drive the company’s growth and strengthen its role in India’s renewable energy transition.
The company’s vision is to build a 5 GW renewable energy portfolio by 2028, making Sunsure a key player in India’s decarbonization efforts.
Key Takeaways
- Major Funding Secured – Sunsure Energy has secured INR 129 crore from Tata Capital and Aditya Birla Finance for its 49 MWp solar project in Augasi, Uttar Pradesh, and INR 416.35 crore from Aseem Infrastructure Finance for its 150 MWp solar park in Solapur, Maharashtra.
- Boosting Renewable Energy Capacity – These projects will add to Sunsure’s growing portfolio, supporting 270 MWp in Uttar Pradesh and expanding green energy adoption in Maharashtra.
- Sustainability Impact – The Augasi solar plant will generate 72 million units of clean energy annually and offset 1.3 million metric tonnes of carbon emissions, while the Solapur park will reduce 163,000 tonnes of CO₂ per year.
- Support for Industrial Transition – Sunsure’s long-term Power Purchase Agreements (PPAs) will help major industrial clients, including Sandoz, KSB, Bharat Forge, and Lupin, switch to clean energy.
- Strong Investor Confidence – The funding from top financial institutions reflects trust in Sunsure’s scalability and impact in India’s renewable sector.
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Conclusion
Sunsure Energy’s recent funding marks a significant step in its growth, strengthening its position as a leading renewable energy provider in India. With investments supporting large-scale solar projects in Uttar Pradesh and Maharashtra, the company is expanding its clean energy portfolio while helping industries transition to sustainable power.
Backed by strong financial partners, Sunsure aims to achieve 5 GW renewable capacity by 2028, driving India’s green energy transformation. By continuously developing solar and wind projects, Sunsure is committed to reducing carbon emissions, supporting industrial decarbonization, and contributing to India’s ambitious 2030 renewable energy goals for a cleaner future.
Invest in Sustainability! Learn how Sunsure’s latest funding is powering a cleaner tomorrow.
