Sunsure Energy, an independent power producer backed by Partners Group, has entered into its first utility-scale solar power purchase agreement (PPA) with the Solar Energy Corporation of India (SECI) to supply 300 megawatts of renewable energy. As part of the agreement, Sunsure will develop a solar park in Bikaner, Rajasthan, at an estimated investment of ₹1,800 crore. The project is slated for completion by December next year.
The agreement covers a peak capacity of 450MW with connectivity to the Inter-State Transmission System (ISTS). This marks Sunsure’s largest PPA and is part of SECI’s Tranche XIII auction for ISTS solar capacity, which Sunsure won in March of the previous year. ISTS allows electricity to be transmitted across state borders via the national grid.
Shashank Sharma, CEO of Sunsure Energy, remarked, “This deal is a key milestone for us. Partnering with SECI for this large-scale solar project boosts our efforts to expand and diversify our portfolio.”Sharma also highlighted that while Sunsure has mainly focused on the commercial and industrial (C&I) sector for renewable energy, it will continue to pursue growth in this area. He added, “Entering the utility segment offers us the opportunity to scale and build a solid portfolio that combines creditworthy C&I customers with reliable off-takers like SECI, ensuring healthy returns on equity.” He emphasized that this project aligns with India’s goal of energy independence and supports Prime Minister Narendra Modi’s vision for the country’s power transition.
SECI, under India’s Ministry of New and Renewable Energy, plays a key role in facilitating the growth of renewable energy by purchasing power from independent producers through competitive bidding and selling it to distribution companies under long-term agreements.
Sunsure Energy currently operates 500MW of assets and aims to reach 5GW within three years, incorporating both solar and wind energy. The company has also received a $400 million equity commitment from Partners Group to establish itself as one of India and Southeast Asia’s largest industrial decarbonization companies.
Founded in 2014, Sunsure Energy is a leading provider of renewable energy solutions in India, helping businesses transition to green energy. The company specializes in providing long-term PPAs that allow companies to offset a significant portion of their energy consumption with renewable sources, including solar, wind, and battery storage. Sunsure has an ambitious goal of reaching 5 GW of renewable energy capacity by 2028 and is supported by Partners Group AG with an equity commitment of $400 million.
