Sunsure Energy has successfully secured INR 416.35 Crore in long-term debt financing from Aseem Infrastructure Finance Limited to support the development of a 150 MWp open-access solar park in Solapur, Maharashtra. This financing will help advance the project, with the first phase already operational and supplying clean energy to major industrial clients. The entire solar park is slated for completion by March 2025.
Sunsure is constructing the Solapur solar park through multiple Special Purpose Vehicles (SPVs) and has signed long-term Power Purchase Agreements (PPAs) with several prominent companies in Maharashtra, including Sandoz, KSB, Olon, Bharat Forge, Kirloskar Brothers, Wonder Cement, Lupin, and Emcure. The park will contribute to a sustainable future by enabling industrial customers to transition to clean energy and reduce approximately 163,000 tonnes of CO2 emissions annually.
Shashank Sharma, Founder and CEO of Sunsure Energy, commented, “This funding from Aseem Infrastructure Finance will help us scale our operations in Maharashtra and solidify our position in the renewable energy sector. The Solapur solar park is a crucial project for the state’s renewable energy goals and will provide clean power to a diverse range of industries, including pharmaceuticals, manufacturing, and cement.” He also highlighted the significance of the project in helping India achieve its 2030 sustainability targets.
Virender Pankaj, CEO of Aseem Infrastructure Finance Ltd, expressed, “We are pleased to partner with Sunsure Energy in providing long-term financing for this key solar project. Aseem Infrastructure Finance is dedicated to supporting the growth of India’s renewable energy sector, and this collaboration demonstrates our commitment to sustainability and the transformative power of clean energy projects.”
Aseem Infrastructure Finance Ltd. is a financial institution focused on supporting infrastructure projects with an emphasis on renewable energy. The company provides financing solutions for clean energy initiatives, aiming to help drive the growth of India’s sustainable infrastructure and support the transition to a greener, more sustainable future.
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.
