Gurugram-based Sunsure Energy has secured ₹1.28 billion (~$14.69 million) in long-term debt financing from Tata Capital and Aditya Birla Finance (ABFL) for its 49 MW open-access solar project in Augasi, Uttar Pradesh.

This financing will support Sunsure’s commissioned 145 MW portfolio of solar open-access projects in the state.

Tata Capital and ABFL will share the loan amount equally.

The solar project in Augasi is expected to generate 72 million units of green power annually and offset 1.3 million metric tons of CO2 over its operational lifetime.

Sunsure is developing 270 MW of solar projects across Uttar Pradesh, with existing projects in Agra, Banda, Mahoba, Jhansi, and Unnao.

The company supplies renewable energy to over 70 industrial clients across 16 states, including Sandoz, Lupin, KSB Pumps, Inox Air Products, Wonder Cement, Emcure, Dabur, and Olon API.

Chairman and CEO of Sunsure Energy Shashank Sharma stated that the financing will help scale solar open-access projects in Augasi, ensuring reliable and affordable green energy for industries in Uttar Pradesh.

Manish Chourasia, COO – Corporate and Cleantech, Tata Capital, emphasized the the potential of Uttar Pradesh for renewable energy expansion.

The debt facility is  Sunsure’s maiden debt financing partnership with ABFL and the second collaboration with Tata Capital. In September 2024, Sunsure  secured ₹2.26 billion (~$25.93 million) in long-term debt financing from Tata Capital to bolster its portfolio of open access solar projects in Uttar Pradesh, with a total operational capacity of 75 MW.

Sunsure Energy is backed by Partners Group AG, with a $400 million (₹34.87 billion) equity commitment. The company aims to reach 5 GW of operational capacity by 2028 and is developing a portfolio of solar, wind, and energy storage projects to serve commercial, industrial, and utility clients.

Earlier this year, Sunsure Energy secured ₹4.16 billion (~$47.72 million) in long-term debt financing from Aseem Infrastructure Finance to develop a 150 MW open access solar park in Solapur, Maharashtra.