Sunsure Energy Gets Rs 400 Cr Debt Funding From Aseem Infrastructure

New Delhi-based Sunsure Energy has secured Rs 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. The 1^st phase of the plant has already been commissioned, with the full plant is expected to be commissioned by March 2025.

Sunsure is developing the 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.

For the Delhi-registered, Mumbai based Aseem Infrastructure Finance, the Sunsure deal adds another piece to its Rs 12,000 crore plus AUM. With a focus  on climate finance, the firm has grown fast since its founding in 2020.Backed by the government of India, 90% of its shareholding is held by the National Infrastructure Investment Fund (NIIF) and  MoF, GOI. Sumitomo Mitsui Banking Corporation of Japan holds the remaining 10%.

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. 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 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."