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PRNewswire
Mumbai (Maharashtra) / New Delhi [India], March 16: Sunsure Energy, India's preferred Round-the-Clock (RTC) renewable energy solutions provider for leading businesses and utilities, has secured 606.22 crore in debt financing across multiple renewable energy projects from Aseem Infrastructure Finance Limited and RBL Bank, further strengthening its capital partnerships as it expands its renewable energy portfolio across key industrial states nation-wide. - The funding will go towards producing 300 million units of clean electricity, and offsetting nearly 230,000 tonnes of CO emissions annually The financing package includes 461.76 crore from Aseem Infrastructure Finance Limited for solar projects in Maharashtra and Uttar Pradesh, along with 144.46 crore in refinancing from RBL Bank for Sunsure's solar project in Augasi, Uttar Pradesh. Together, the financing would support over 242 MWp of solar capacity, supplying renewable energy to commercial and industrial consumers through long-term power purchase agreements (PPAs). The projects are expected to generate approximately 300 million units of clean electricity annually, helping offset nearly 230,000 tonnes of CO emissions each year, based on the latest CEA grid emission factor. The projects will supply clean power to C&I (commercial and industrial) customers under long-term Power Purchase Agreements (PPAs), enabling businesses to transition to reliable, lower cost green energy. The financing also begins Sunsure Energy's project financing relationship with RBL Bank, while reinforcing its continued partnership with Aseem Infrastructure Finance. Commenting on the development, Shashank Sharma, Founder, Chairman and CEO, Sunsure Energy, said, "Our commitment to powering India's leading businesses and industries with round-the-clock renewable energy requires a deep understanding of each state's evolving demand patterns, regulatory realities, and other technical considerations to design solutions around them. These financings, done for solar projects in Maharashtra and Uttar Pradesh, are key to advancing our #UjjwalMaharashtra and #UPShakti missions - Sunsure's commitment to power and decarbonise the C&I backbone of both states. As we expand across major industrial regions including Maharashtra, Tamil Nadu, Rajasthan, Karnataka, and Uttar Pradesh, continued access to long-term institutional capital remains critical to building high-quality renewable assets. We value the continued trust of institutions like Aseem Infrastructure Finance and RBL Bank in our asset quality and execution capabilities as we continue to contribute to India's clean energy ambitions." About Sunsure Energy Founded in 2014, Sunsure Energy is India's preferred Round-the-Clock renewable energy solutions provider for leading businesses and utilities. As a leading Independent Power Producer (IPP), Sunsure enables corporations across India to embrace clean energy with ease and confidence through long-term Power Purchase Agreements (PPAs) that offset up to 100% of their power use with round-the-clock clean energy (RERTC) from solar, wind, and battery storage solutions. Sunsure is backed by Partners Group AG with an equity commitment of $400 million towards its vision of building the largest industrial decarbonisation company in India and Southeast Asia. With 700 MW operational assets, 7.10 GW under various stages of development across Maharashtra, Uttar Pradesh, Tamil Nadu, Rajasthan, and Karnataka, and a target of 10 GW by 2030, Sunsure is committed to Making India's Power Move. https://sunsure-energy.com Logo: https://mma.prnewswire.com/media/2491395/Sunsure_Energy.jpg (ADVERTORIAL DISCLAIMER: The above press release has been provided by PRNewswire. ANI will not be responsible in any way for the content of the same)
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