NEW DELHI: Renewable energy solution provider Sunsure Energy on Wednesday said it has secured a Rs 226-crore long-term debt financing from Tata Capital for Open Access Solar projects in Uttar Pradesh.
The financing will support Sunsure Energy's expanding portfolio of open-access solar projects in Uttar Pradesh, totalling 75 MWp in operational capacity, according to a statement.
According to the statement Sunsure Energy has announced a Rs 226-crore long-term debt financing from Tata Capital Ltd.
The financing is structured across five SPVs (special purpose vehicle) and covers commissioned solar projects strategically located across Uttar Pradesh.
These projects are already delivering clean energy to several renowned industrial consumers in the state, contributing to a greener future and offsetting an estimated 80,000 tonnes of carbon dioxide annually.
Shashank Sharma, Founder, Chairman and CEO, Sunsure Energy, said, "This financing enables us to further scale up our portfolio of solar open-access projects in Uttar Pradesh and meet the demand for green energy in the state."
Manish Chourasia, Chief Operating Officer-Corporate and Cleantech at Tata Capital Ltd, said in the statement, "This partnership aligns with our goal of supporting impactful projects as we remain dedicated to foster a greener and more sustainable future."
Sunsure Energy provides renewable energy solutions to over 70 Indian industrial companies across over 16 states, including multinationals like Sandoz, KSB Pumps, Emcure, Dabur, Olon API, and more.