Sunsure Energy Secures ₹416.35 Cr for 150 MWp Solar Park

Renewable energy developer Sunsure Energy has successfully secured ₹416.35 crore (approximately US$50 million) in long-term debt financing from Aseem Infrastructure Finance Ltd. The capital injection is earmarked for the construction and completion of a 150 MWp open-access solar park located in Solapur, Maharashtra, a strategic project designed to accelerate the green energy transition for commercial and industrial (C&I) clients.

Project Scope and Impact: Sunsure Energy Secures ₹416.35 Cr for 150 MWp Solar Park

The Solapur Solar Park, structured across multiple special purpose vehicles (SPVs), is a critical component of Maharashtra’s growing renewable energy landscape. According to a company press release from January 14, 2025, the project is already partially operational and is on track for full commissioning by March 2025. Once fully active, the solar park is projected to offset approximately 163,000 tonnes of carbon emissions annually, making a substantial contribution to India’s climate goals.

Sunsure Energy has secured long-term power purchase agreements (PPAs) with a diversified group of prominent industrial offtakers. The client roster spans the pharmaceutical, manufacturing, and cement sectors, including industry leaders such as Lupin, Sandoz, Emcure, KSB, Bharat Forge, Wonder Cement, Kirloskar Brothers, and Olon. This strong offtaker base ensures the project’s long-term commercial viability.

Strategic Financing and Future Growth

The financing from Aseem Infrastructure Finance is pivotal for Sunsure’s expansion strategy. Shashank Sharma, CEO of Sunsure Energy, stated, “This long-term financing from Aseem Infrastructure Finance will accelerate our portfolio expansion in Maharashtra.” This project aligns with Sunsure’s ambitious target to develop a 5 GW portfolio of renewable energy assets by 2028. The company is supported by a significant $400 million equity investment from Partners Group AG, aimed at establishing a leading industrial decarbonisation platform across India and Southeast Asia.

Virender Pankaj, CEO of Aseem Infrastructure Finance Ltd, expressed his firm’s commitment to the partnership. He highlighted that the structured financing solution was specifically designed to support the nine SPVs comprising the Solapur park. Pankaj also noted that clean energy projects represent over 50% of Aseem’s financial exposure, underscoring their dedication to advancing India’s renewable energy sector. “Aseem Infrastructure Finance is glad to partner with Sunsure Energy to provide long-term debt financing that will significantly contribute to the expansion of their renewable energy portfolio in India,” he said.

Advancing Industrial Decarbonisation

The collaboration between Sunsure Energy and Aseem Infrastructure Finance exemplifies the financial mobilization required to meet India’s 2030 renewable energy targets. By providing clean, reliable power to major industrial consumers, the Solapur Solar Park serves as a model for large-scale renewable developments that directly address industrial decarbonisation and foster sustainable economic growth.

Sources

1. Sunsure Energy commissions open access solar plant in …
2. Sunsure Energy Secures ₹606 Crore Debt Financing for …
3. Sunsure Energy secures INR 416.35 Crore long-term debt …
4. Sunsure Energy Secures ₹6.06 Billion Funding for Solar …
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6. Project detail – Sunsure Solarpark Forty-Nine Private Limited
7. Sunsure Raises ₹6 Billion in Debt Financing from Aseem …
8. Sunsure secures US$65.6 million debt to fund 242MWp …