Sunsure Energy secures Rs 262 crore financing for Tamil Nadu solar project
Sunsure Energy has secured Rs 262 crore in project financing from FMO, the Dutch entrepreneurial development bank, and Axis Bank for its 75 MWp open access solar project at Ilayangudi in Tamil Nadu.
The company said the financing marks FMO’s first project financing in India’s group captive commercial and industrial (C&I) renewable energy sector.
According to Sunsure Energy, the project will supply clean electricity to commercial and industrial consumers across Tamil Nadu through the open access route, supporting decarbonisation efforts and contributing to India’s energy transition.
The company said the financing combines support from an international development finance institution and a domestic lender to advance the commercial and industrial renewable energy market. It added that the investment reflects growing institutional confidence in the long-term potential of India’s group captive C&I renewable energy segment.
Management comments
Shashank Sharma, Founder, Chairman and CEO of Sunsure Energy, said the transaction marks FMO’s entry into group captive C&I project financing in India and acknowledged Axis Bank’s continued support for C&I renewable energy projects in the country.
Marnix Monsfort, Director – Energy, FMO, said the transaction brings FMO’s global practices and standards to India’s commercial and industrial renewable energy sector.
Vijay Mulbagal, Group Head – Wholesale Bank Coverage, Corporate Salary, Sustainability & CSR, Axis Bank, said the partnership with Sunsure Energy and FMO reflects the bank’s focus on supporting well-structured renewable energy infrastructure projects backed by strong governance and execution capability to deliver long-term impact.
Photo credit: Sunsure Energy/LinkedIn
