Sunsure Energy to invest in 11 MW captive solar project in Maharashtra

Sunsure Solarpark Thirty Seven Private Limited, a special purpose vehicle of Sunsure Energy Private Limited, has signed key agreements with Sunflag Iron & Steel Company Limited to develop a captive solar power project in Dhule, Maharashtra.

The agreements include a Power Purchase Agreement (PPA) and a Share Subscription and Shareholders Agreement (SSSHA). As part of the deal, Sunflag will invest Rs 57.25 million to acquire a 26 per cent equity stake in the SPV developing the project.

The planned solar project will have a capacity of 11 MW (16.5 MWp) and will be located in Ajande Khurd village, Sindhkeda taluka, Dhule district. It will be developed as a captive power plant, supplying solar energy directly to Sunflag’s operations.