Sunsure Bags INR 416.35 Crore from Aseem Infrastructure Finance for 150 MWp Solar Park in Maharashtra
Sunsure Energy has secured INR 416.35 Crore in long-term debt financing from Aseem Infrastructure Finance Limited to fund the development of Sunsure’s 150 MWp open-access solar park in Solapur, Maharashtra.
January 14, 2025. By News Bureau
The 1st phase of the plant has already been commissioned and is supplying clean energy some of state’s biggest industrial customers. The full plant is expected to be commissioned by March 2025.
Sunsure is developing Solapur solar park through multiple Special Purpose Vehicles, it has entered into long term Power Purchase Agreements with prominent industrial clients across Maharashtra, including Sandoz, KSB, Olon, Bharat Forge, Kirloskar Brothers, Wonder Cement, Lupin, and Emcure. The solar park will play a pivotal role in advancing a sustainable future by enabling its industrial customers transition to clean power and offsetting approximately 163,000 tonnes of carbon dioxide annually.
Shashank Sharma, Founder, Chairman and CEO, Sunsure Energy said, “This long-term financing from Aseem Infrastructure Finance will accelerate our portfolio expansion in Maharashtra, strengthening our position as a leading renewable energy solutions provider. The Solapur solar park will cater to a diverse set of C&I customers including those in the pharmaceutical, manufacturing, and cement industries, and will significantly help the state meet its renewable energy goals. We look forward to deepening our partnership with Aseem Infrastructure and working together to assist Indian industry in transitioning to responsible green energy and contributing to achieving India’s ambitious 2030 targets.”
Virender Pankaj, CEO, Aseem Infrastructure Finance Ltd, said, “Aseem Infrastructure Finance is glad to partner with Sunsure Energy to provide long-term debt financing that will significantly contribute to the expansion of their renewable energy portfolio in India. At Aseem Infra, we are committed to driving the growth of the country’s renewable energy sector by providing financing solutions that cater to the unique needs of our clients. As a testament to this, the current debt solution was meticulously structured to meet the financing requirements of the project which is a 150 MWp open-access solar park project in Solapur, Maharashtra spread across 9 SPVs, having a very diversified offtaker composition. This collaboration with Sunsure Energy group demonstrates to our unwavering dedication to sustainability and our confidence in the transformative potential of renewable energy projects. We look forward to continuing our partnership with the Sunsure Energy group and contributing to more such landmark projects in the future”
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