Kirloskar Brothers Invests INR 48.59 Million in Sunsure Solarpark for Captive Solar Power
Kirloskar Brothers, a Pune-based pumps and valves manufacturer has invested about INR 48.59 million in Sunsure Solarpark Nineteen, an SPV set up by Sunsure Energy, to procure solar power under an open access group captive arrangement. The company aims to enhance its RE capacity to 70 percent by FY 2025-26.
March 15, 2025. By Mrinmoy Dey
The company along with its wholly-owned subsidiary, The Kolhapur Steel Ltd. (TKSL), in February 2025, had entered into an amendment to the Share Subscription and Shareholders Agreement (‘SSHA’) for the acquisition of at least 26 percent of equity share capital (up to INR 50 Million) of Sunsure Solarpark Nineteen Pvt. Ltd.
Kirloskar Brothers so far has made an investment of INR 39.58 Million in addition to the investment of INR 9.01 Million made by TKSL, aggregating to INR 48.59 Million by subscribing to the equity share capital of Sunsure Solarpark, the company shared in a regulatory filing.
“Sunsure Solarpark has credited on March 13, 2025, 31,020 equity shares of INR 10 each to the Company, in addition to 7,068 equity shares credited to TKSL, at a premium of INR 1,266 per equity share, which constitutes 46.07 percent (i.e. 37.52 percent acquired by the Company and 8.55 percent by TKSL) of the paid-up equity share capital of Sunsure Solarpark as on date,” it said.
Kirloskar Brothers in its Business Responsibility and Sustainability Report 2023-23 mentioned that renewable energy through rooftop solar plants and windmills installed at various locations contributes up to 23 percent of the company’s total energy consumption. “We are further working to enhance our RE capacity up to 70 percent through open access and rooftop solar solutions by FY 2025-26. This shall result in the reduction of scope 1 and 2 emissions by around 40-50 percent,” it said.
In September 2024, Kirloskar Brothers signed a 13.5 MWp solar Open Access Power Purchase Agreement (PPA) with Sunsure Energy. As per the agreement, Sunsure Energy will supply nearly 2 crore units of green power annually to KBL’s manufacturing facilities in Kirloskarvadi in Sangli district and Kohlapur in Maharashtra.
please contact: contact@energetica-india.net.
Jitendra Tanwar
Managing Director & CEO
Namdev Finvest Drives Electric Mobility with Dual-Model EV Financing
Nitin Gupta
Co-founder & CEO
Attero's Li-ion Battery Recycling Sets Global Standards with 98 Percent Metal Recovery
Varchasvi Gagal
CEO & Managing Director
Datta Infra Targets 1 GW of Renewable Energy Projects by 2028, Expanding into Asset Ownership
Divyesh Savaliya
Chairman
Onix Renewable Targets 10 GW Solar Capacity by 2030, Expanding Global Presence
Julian Thomas
Senior Project Director – Renewable Energy & Battery Portfolio
RenewX 2025 in Chennai to Showcase Innovations in RE Technologies and Energy Storage