Sunsure Secures Rs 1.28 Billion Loan for 49 MW Solar Project
Sunsure Energy has obtained Rs 1.28 billion in long-term debt financing from Tata Capital and Aditya Birla Finance (ABFL) for its 49 MW open-access solar project in Augasi, Uttar Pradesh. The loan amount will be equally shared by both lenders. The Augasi solar project is expected to generate 72 million units of green power annually and offset 1.3 million metric tons of CO2 over its lifetime. This funding supports Sunsure’s 145 MW commissioned solar portfolio in Uttar Pradesh, with additional projects in Agra, Banda, Mahoba, Jhansi, and Unnao. Sunsure supplies renewable energy to over 70 industrial clients across 16 states, including major companies like Sandoz, Lupin, and Dabur. Chairman and CEO Shashank Sharma highlighted that this financing will help scale up solar open-access projects, providing reliable and affordable green energy for industries in the state. This marks Sunsure’s first debt financing partnership with ABFL and its second with Tata Capital. In September 2024, the company secured Rs 2.26 billion from Tata Capital for solar projects with a total capacity of 75 MW in Uttar Pradesh. Backed by Partners Group AG with a $400 million equity commitment, Sunsure aims to reach 5 GW of operational capacity by 2028. Earlier this year, it secured Rs 4.16 billion from Aseem Infrastructure Finance for a 150 MW solar park in Solapur, Maharashtra. (Mercom)
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