Sunsure Secures INR 2.26 Billion for Solar Projects

• Sunsure Energy secures ₹2.26 billion to fuel solar growth in Uttar Pradesh, empowering clean energy for industries and expanding its renewable portfolio. The future is bright!

Sunsure Energy has secured long-term debt financing of INR 2.26 billion (approximately USD 26.9 million) for its 75-MW solar portfolio in Uttar Pradesh, India. The financing, arranged by Tata Capital Ltd, is distributed across five special purpose vehicles (SPVs) and supports existing solar projects that are already supplying clean energy to various industrial consumers in the region.

Shashank Sharma, Sunsure’s CEO, emphasized that this funding will enable the company to expand its portfolio of solar open-access projects, addressing the increasing demand for renewable energy in Uttar Pradesh. Sunsure Energy is actively engaged in developing solar, wind, and energy storage projects, currently providing green energy to over 70 industrial clients across 16 states in India.

How will Sunsure Energy utilize its new INR 2.26 billion financing for solar projects?

Sunsure Energy plans to strategically utilize its recent financing of INR 2.26 billion for solar projects in several impactful ways:

- Expansion of Solar Capacity: Allocate funds to increase the overall capacity of its solar projects, including the construction of additional solar plants that contribute to the existing 75-MW portfolio.

- Development of New Solar Projects: Kick off new solar initiatives in key areas, specifically focusing on regions with high industrial energy demands to enhance its footprint in Uttar Pradesh and beyond.

- Enhancement of Existing Installations: Invest in upgrading the technology and infrastructure of existing solar facilities to improve efficiency and maximize energy output for current industrial clients.

- Research and Development: Dedicate a portion of the financing to R&D efforts aimed at innovative solar technologies and improved energy storage solutions, keeping in line with industry advancements.

- Partnership Development: Foster partnerships with local and international stakeholders to share resources, knowledge, and expertise in solar energy development, thus accelerating project implementation.

- Compliance and Regulatory Alignment: Ensure that all projects adhere to the latest regulatory standards and environmental guidelines, facilitating smoother operations and permitting processes.

- Community Engagement Initiatives: Implement community outreach programs to educate local populations about the benefits of renewable energy, thereby fostering goodwill and local support for its projects.

- Risk Management Measures: Strengthen financial and operational risk management frameworks to make projects more resilient to market fluctuations or unforeseen events.

- Battery Storage Integration: Explore opportunities to integrate energy storage solutions with solar projects, enabling better energy management and reliability for industrial consumers.

- Sustainability Tracking: Set up systems for monitoring and reporting sustainability metrics related to the carbon footprint reduction and overall impact of solar energy projects on the environment.

By mobilizing this financing effectively, Sunsure Energy aims to solidify its position as a leader in renewable energy within the Indian market while addressing the increasing demand for sustainable power among industrial clients.