InSolare Energy Raises Rs.660 Million Led by Negen Capital
POWER & RENEWABLE ENERGY

InSolare Energy Raises Rs.660 Million Led by Negen Capital

InSolare Energy, a prominent player in the renewable energy sector headquartered in Bengaluru, has successfully secured ?660 million (~$7.96 million) in a recent growth funding round. The financing was spearheaded by Negen Capital, with notable participation from Mukul Aggarwal, Anchorage Capital Fund, and Ankit Mittal ? Khazana Tradelink.

The infusion of funds comes at a pivotal time for InSolare Energy as it aims to bolster its portfolio and engineering, procurement, and construction (EPC) execution capabilities. With a portfolio already boasting over 300 MW of EPC orders and 500 MW of solar parks under execution, the company is poised for further expansion and market dominance.

Notably, InSolare Energy marked significant milestones in the past year, completing multiple noteworthy projects including a 70 MW solar park in Jalna, a 90 MW solar park in Karnataka, and a 40 MW captive project for a leading cement company in Chhattisgarh.

Navashil Sharma, Founder & CEO of InSolare Energy, highlighted the company's commitment to delivering customer-centric renewable energy solutions, leveraging over 14 years of industry experience. He emphasized InSolare Energy's core values of Integrity, Innovation, Quality, Results, Respect, and Discipline that have underpinned its success.

The company's achievements were further underscored by its inclusion in the top 10 large-scale solar EPC companies during the first half of 2023, as per Mercom?s India Solar Market Leaderboard 1H 2023. This recognition attests to InSolare Energy's stature and contribution to the burgeoning solar energy landscape in India.

In a broader context, the solar sector has been experiencing robust growth globally, as evidenced by Mercom Capital Group's latest report. In 2023, global corporate funding in the solar sector, encompassing venture capital investments, public market funding, and debt financing, surged to $34.3 billion, marking a remarkable 42% year-over-year increase. This surge in funding represents the largest amount raised in over a decade, signaling the growing investor confidence in renewable energy ventures.

In parallel developments within the Indian solar industry, Gensol Engineering, another leading solar EPC and consulting firm, recently secured ?9 billion (~$108.60 million) in equity capital. The substantial equity funding, facilitated through warrants convertible into equity shares on a preferential basis, attracted participation from both international and domestic investors, including the Elara India Opportunity Fund, Aries Opportunities Fund, and Tano Investment Opportunities Fund.

With InSolare Energy's latest funding round and the broader surge in investments in the solar sector, the stage is set for further innovation, expansion, and sustainability in India's renewable energy landscape, driving the nation closer to its ambitious clean energy targets.

InSolare Energy, a prominent player in the renewable energy sector headquartered in Bengaluru, has successfully secured ?660 million (~$7.96 million) in a recent growth funding round. The financing was spearheaded by Negen Capital, with notable participation from Mukul Aggarwal, Anchorage Capital Fund, and Ankit Mittal ? Khazana Tradelink. The infusion of funds comes at a pivotal time for InSolare Energy as it aims to bolster its portfolio and engineering, procurement, and construction (EPC) execution capabilities. With a portfolio already boasting over 300 MW of EPC orders and 500 MW of solar parks under execution, the company is poised for further expansion and market dominance. Notably, InSolare Energy marked significant milestones in the past year, completing multiple noteworthy projects including a 70 MW solar park in Jalna, a 90 MW solar park in Karnataka, and a 40 MW captive project for a leading cement company in Chhattisgarh. Navashil Sharma, Founder & CEO of InSolare Energy, highlighted the company's commitment to delivering customer-centric renewable energy solutions, leveraging over 14 years of industry experience. He emphasized InSolare Energy's core values of Integrity, Innovation, Quality, Results, Respect, and Discipline that have underpinned its success. The company's achievements were further underscored by its inclusion in the top 10 large-scale solar EPC companies during the first half of 2023, as per Mercom?s India Solar Market Leaderboard 1H 2023. This recognition attests to InSolare Energy's stature and contribution to the burgeoning solar energy landscape in India. In a broader context, the solar sector has been experiencing robust growth globally, as evidenced by Mercom Capital Group's latest report. In 2023, global corporate funding in the solar sector, encompassing venture capital investments, public market funding, and debt financing, surged to $34.3 billion, marking a remarkable 42% year-over-year increase. This surge in funding represents the largest amount raised in over a decade, signaling the growing investor confidence in renewable energy ventures. In parallel developments within the Indian solar industry, Gensol Engineering, another leading solar EPC and consulting firm, recently secured ?9 billion (~$108.60 million) in equity capital. The substantial equity funding, facilitated through warrants convertible into equity shares on a preferential basis, attracted participation from both international and domestic investors, including the Elara India Opportunity Fund, Aries Opportunities Fund, and Tano Investment Opportunities Fund. With InSolare Energy's latest funding round and the broader surge in investments in the solar sector, the stage is set for further innovation, expansion, and sustainability in India's renewable energy landscape, driving the nation closer to its ambitious clean energy targets.

Next Story
Infrastructure Urban

Larsen & Toubro Secures Contract from Defence Ministry

The Ministry of Defence, Government of India, has awarded a significant contract to Larsen & Toubro (L&T) for supplying K9 Vajra-T Artillery Platforms to the Indian Army. As per the company's project classification, the contract is valued between Rs 50 billion and Rs 100 billion. The K9 Vajra-T, a 155 mm, 52-calibre tracked self-propelled artillery platform, is an adaptation of the globally renowned South Korean K9 Thunder howitzer. It has been co-developed by L&T and Hanwha Aerospace to meet the Indian Army's specific operational needs across diverse terrains, including deserts, plains, and..

Next Story
Real Estate

Delhi-NCR Housing Market sees 25% Sales Growth

The Delhi-NCR property market has maintained its momentum during the December quarter, with housing sales and new supply estimated to grow by 25 per cent and 59 per cent, respectively, as reported by PropEquity. Data from the real estate analytics firm suggests that housing sales in Delhi-NCR are likely to rise to 12,915 units during the October-December period of this year, compared to 10,354 units in the corresponding period of the previous year. New supply in the region is expected to increase significantly, reaching 11,223 units, a 59 per cent rise from 7,072 units in the year-ago quarter..

Next Story
Infrastructure Urban

DDC Approves Five Key Projects Under Kasaragod Development Package

The District Development Committee (DDC) has approved a budget of Rs 100.08 million for five key projects under the Kasaragod Development Package. This funding is part of the Rs 700 million allocated in the State budget for the 2024-25 financial year, with administrative approval formally amended to incorporate these initiatives. The decision was made during a meeting chaired by District Collector K. Inbasekar on Saturday, December 21. The approved projects include Rs 40.99 million for constructing Udayapuram Thungal Road in Kottom Belur grama panchayat and Rs 20.56 million for setting up a ..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000