Sunsure Energy Secures ₹606.22 Crore Debt Financing for Solar Expansion in Maharashtra and Uttar Pradesh

Sunsure Energy has secured ₹606.22 crore in debt financing from Aseem Infrastructure Finance Limited and RBL Bank, marking a significant milestone toward its stated objective of raising ₹5,000 crore in debt during the current fiscal year. This capital infusion, part of a broader ₹10,000 crore debt-raising trajectory over the next two years, will support the development and refinancing of solar projects totaling 242 MWp across Maharashtra and Uttar Pradesh. The transaction underscores Sunsure’s transition from an EPC/O&M-focused firm into a full-scale Independent Power Producer (IPP) model, targeting high-margin commercial and industrial (C&I) portfolios.

Debt Financing Allocation

The financing is structured to support both new capacity development and the optimization of stabilized assets.

This transaction establishes a new project financing relationship with RBL Bank while extending a long-standing partnership with Aseem Infrastructure Finance. Aseem previously provided ₹416.35 crore in long-term debt for Sunsure’s 150 MWp flagship solar park in Solapur, Maharashtra. The current allocation reinforces the lender’s confidence in Sunsure’s execution capabilities as the company scales its utility-scale assets.

Project Scope and Capital Recycling Strategy

The 242 MWp portfolio is distributed across the industrial hubs of Maharashtra and Uttar Pradesh. A key component of this package is the ₹144.46 crore refinancing from RBL Bank for the “Augasi” solar project in Uttar Pradesh. This reflects Sunsure’s capital recycling strategy: refinancing stabilized, operational assets to free up capital for new expansion projects, such as those currently being financed by Aseem Infrastructure.

The offtake structure is secured by long-term Power Purchase Agreements (PPAs) with industrial leaders. These agreements provide long-term revenue visibility and operational cost-competitiveness for a diverse C&I backbone, including:

• Data Centers: Supporting high-uptime digital infrastructure.
• Pharmaceutical Giants: Powering energy-intensive manufacturing.
• FMCG Sectors: Providing clean energy to leaders such as Haldiram’s and APL Apollo.

Environmental Impact and Sustainability Metrics

The 242 MWp expansion is projected to deliver measurable environmental returns, which are central to the decarbonization mandates of Sunsure’s majority shareholder, Partners Group. Based on the latest Central Electricity Authority (CEA) grid emission factors, the portfolio’s expected performance includes:

• Annual Generation: Projected production of 300 million units of clean electricity.
• Carbon Reduction: Annual offset of approximately 230,000 tonnes of CO2 emissions.

These metrics align with Sunsure’s shift toward integrated renewable solutions, including “Solar + BESS” (Battery Energy Storage Systems) designed to address peak-hour demand for industrial consumers.

Strategic Alignment and Regional Missions

The financed projects are core components of Sunsure’s state-specific initiatives: #UjjwalMaharashtra and #UPShakti. The Solapur 150 MWp project serves as the flagship for the Maharashtra mission, while the refinancing of the Augasi asset stabilizes the Uttar Pradesh portfolio.

Shashank Sharma, Founder, Chairman, and CEO of Sunsure Energy, stated: “These financings, done for solar projects in Maharashtra and Uttar Pradesh, are key to advancing our #UjjwalMaharashtra and #UPShakti missions – Sunsure’s commitment to power and decarbonise the C&I backbone of both states. As we expand across major industrial regions… continued access to long-term institutional capital remains critical to building high-quality renewable assets.”

Corporate Profile and 2030 Growth Objectives

Sunsure Energy currently manages an operational capacity of 700 MW and is transitioning its business model to focus on utility-scale IPP projects. The company is backed by the Swiss private equity firm Partners Group, which holds a majority stake of approximately 85%. Of Partners Group’s $400 million (₹3,200 crore) equity commitment, roughly $140 million (₹1,150 crore) has already been infused to reach current operational milestones and support the 2 GWp target set for FY27.

Sunsure maintains a long-term goal of reaching a 10 GW portfolio by 2030. To achieve this, the company is actively expanding its footprint in other high-demand industrial regions, including Tamil Nadu, Rajasthan, and Karnataka, leveraging long-term institutional capital to maintain its position as a preferred renewable energy partner for India’s industrial sector.