Sunstream Green secures Rs 700 crore refinancing for 250 MW solar portfolio

Sunstream Green Energy has secured Rs 7 billion (around Rs 700 crore) in refinancing from State Bank of India (SBI) for a solar portfolio exceeding 250 MW across 17 sites in Maharashtra.

According to the company, the portfolio was developed over three years and achieved operational stabilisation before refinancing. The refinancing arrangement is expected to reduce interest costs by nearly 125 basis points and improve long-term capital productivity. 

The solar assets were initially financed during the construction phase by Aseem Infrastructure Finance Limited and Power Finance Corporation (PFC). Following operational stabilisation of the projects, SBI has refinanced the portfolio.

The company said the transaction reflects the operational performance and financial stability of the assets after commissioning. 

Sunstream said the refinancing also reflects a broader trend in India’s renewable energy sector, where lenders and investors are placing greater emphasis on operational quality and long-term bankability rather than installed capacity alone.

The company noted that financing institutions are increasingly differentiating between capacity creation and the development of stable operating renewable energy assets capable of generating predictable returns. 

Founded in 2020 by Bhadra Kanaiya, Sunstream Green Energy currently has a 1 GW pipeline covering utility-scale and commercial and industrial (C&I) solar projects. Backed by Singapore-based institutional capital, the company is targeting 2 GW of capacity by 2030 and is also expanding into battery energy storage systems (BESS) and wind energy.

In September 2025, Narendra Modi inaugurated Sunstream’s 140 MWp distributed solar project in Maharashtra across Solapur, Ahilyanagar, and Dharashiv districts as part of a larger 2,458 MW renewable energy launch. 

India’s renewable energy expansion continues to accelerate alongside the country’s target of achieving 500 GW of non-fossil fuel capacity by 2030. Peak power demand has already crossed 250 GW, increasing the requirement for grid-balancing infrastructure and storage capacity.

Industry estimates indicate that India could require around 208–230 GWh of energy storage capacity over the next decade to support grid stability and round-the-clock renewable energy supply. Installed battery storage capacity, however, stood at about 1.08 GWh as of December 2025.

Sunstream Green Energy said it plans to continue developing integrated clean energy platforms to support long-term infrastructure growth and rising electricity demand.

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