SUMMARY
- Sunsure Energy secures Rs. 226 crores in long-term debt from Tata Capital to expand its open-access solar projects in Uttar Pradesh.
- Tata Capital’s financing supports Sunsure’s solar projects across five SPVs, reducing CO2 emissions by 80,000 tonnes annually.
- Sunsure Energy, backed by a $400 million equity commitment from Partners Group, aims to grow from 500 MW to 5 GW of renewable assets by 2028.
Sunsure, a renewable energy solutions provider announced on Wednesday that it has obtained a long-term debt of Rs. 226 crore from Tata Capital for Open Access Solar projects located in Uttar Pradesh.
This funding is supposed to help Sunsure Energy maintain its growing portfolio of open-access solar projects in Uttar Pradesh.
Regarding this, Tata Capital Ltd. has announced a long-term, loan financing of Rs. 226 crore for the company, which covers commissioned solar projects strategically dispersed throughout Uttar Pradesh and is arranged into five special purpose vehicles or SPVs which are already providing the state with clean energy and offsetting an estimated 80,000 tonnes of Co2 yearly.
As Founder, Chairman, and CEO of Sunsure Shashank Sharma said ” 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.” Also, the Chief Operating Officer- Corporate and Cleantech at Tata Capital Ltd, Mr. Manish Chouraisa states, “This partnership aligns with our goal of supporting impactful projects as we remain dedicated to fostering a greener and more sustainable future.”
More than 70 industrial enterprises in 16 states in India including multinationals like Sandoz, KSB Pumps, Emcure, Dabur, and Olon Api rely on Sunsure Energy for renewable solutions. With an equity commitment of $400 million, Partners Group supports the company, which now operates 500 megawatts (MW) of assets and plants to reach 5 gigawatts (GW) by the end of 2028.
