Sunsure Energy announced on Wednesday that it has signed an agreement with state-owned REC Ltd to secure a ₹10,000 crore loan for various green energy projects. The agreement was finalized at the 4th Global RE-Invest Meet and Expo, organized by the Ministry of New and Renewable Energy (MNRE) in Gandhinagar, Gujarat.
This partnership will facilitate debt financing for 3 GW of solar, wind, hybrid, and Battery Energy Storage Systems (BESS) projects, bolstering India’s shift towards renewable energy. The agreement was signed by Shantanu Faugaat, Director & COO of Sunsure Energy, and Saurabh Rastogi, Executive Director (Renewable Energy and Business Development) at REC.
The loan will allow Sunsure Energy to expand its portfolio of open-access hybrid projects across India, including intra-state solar and solar-wind hybrid initiatives.”By supplying clean energy to commercial and industrial customers, these projects are projected to offset 5 million tonnes of carbon dioxide annually,” said Sunsure Energy in its statement.
Shashank Sharma, Founder, Chairman, and CEO of the company, commented, “We see great potential in this collaboration. Our shared ambition is to accelerate India’s journey towards a more sustainable and energy-independent future, and this partnership with REC is a significant step in that direction.”
Sunsure Energy currently supports the sustainability goals of over 70 industrial giants across 16 Indian states, including companies like Sandoz, Lupin, KSB Pumps, Inox Air Products, Emcure, Dabur, and Olon API.
