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IPP Lending & Credit

Staff Reporter

, India

Published:

3 months ago

Photo by Red Zeppelin via Pexels

Sunsure Energy bags $26.91m loan for Uttar Pradesh solar projects

These have a total capacity of 75 megawatt-peak.

Independent power producer Sunsure Energy has secured a $26.91m (INR 226 crore) long-term debt financing from Tata Capital Ltd. that will support the former’s portfolio of open-access solar projects in Uttar Pradesh, totalling 75 megawatt-peak in operational capacity.

Sunsure Energy said in a statement that the loan is structured across five solar projects and covers commissioned solar projects located across the Indian state. These projects are already delivering clean energy to several industrial consumers in the state, eliminating around 80,000 tonnes of carbon dioxide annually.

Shashank Sharma, founder, chairman and CEO, Sunsure Energy said the financing will allow the company to further scale up its portfolio and help meet green energy demand in Uttar Pradesh.

“This partnership aligns with our goal of supporting impactful projects as we remain dedicated to foster a greener and more sustainable future,” said Manish Chourasia, COO- Corporate and Cleantech at Tata Capital.

$1 = INR83.97

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