Sunsure gets long-term debt for 75-MW solar portfolio in Uttar Pradesh

Indian renewables developer Sunsure Energy today said it has secured long-term debt financing of INR 2.26 billion (USD 26.9m/EUR 24.4m) for a 75-MWp portfolio of open-access solar projects in the northern Indian state of Uttar Pradesh.

The financing, provided by Tata Capital Ltd, is structured across five special purpose vehicles (SPVs).

The portfolio consists of commissioned solar projects across Uttar Pradesh that are already delivering clean energy to several industrial consumers.

“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,” said Shashank Sharma, founder, chairman and CEO of Sunsure Energy.

Sunsure Energy develops solar, wind and energy storage projects to support businesses’ transition to green power. It is currently providing renewable energy to more than 70 industrial companies across 16 states.

(INR 1 = USD 0.012/EUR 0.011)

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