Sunsure Energy, an independent power producer, has secured Rs 4.16 billion ($48.07 million) in long-term debt financing from Aseem Infrastructure Finance to develop a 150 MW open-access solar park in Solapur, Maharashtra. The project’s first phase is already operational, supplying renewable energy to industrial clients, with full capacity slated for completion by March 2025.
The solar park, being developed through multiple special-purpose vehicles, has long-term power purchase agreements with prominent industrial customers such as Sandoz, KSB, Bharat Forge, Kirloskar Brothers, Wonder Cement, Lupin, and Emcure. This initiative will support the transition to clean energy for these companies, offsetting approximately 163,000 tons of carbon dioxide emissions annually.
Shashank Sharma, Founder, Chairman, and CEO of Sunsure Energy, emphasized that the financing from Aseem Infrastructure will bolster the company’s renewable energy portfolio in Maharashtra.
This funding follows Sunsure’s previous debt financing of Rs 2.26 billion ($26.92 million) from Tata Capital for solar projects in Uttar Pradesh and highlights Aseem Infrastructure’s continued investment in renewable projects, including support for Avaada Energy and Cleantech Solar.
