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					</table><p><a href="https://insolare.com/" target="_blank" rel="noopener">InSolare Energy</a>, a Bengaluru-headquartered renewable developer and engineering, procurement, and construction (EPC) company, has raised ₹660 million (~$7.96 million) in a growth funding round.</p>
<p>The funding was led by <a href="https://negenpms.com/" target="_blank" rel="noopener">Negen Capital</a>, with participation from Mukul Aggarwal, <a href="https://anchoragecap.in/" target="_blank" rel="noopener">Anchorage Capital Fund</a>, and Ankit Mittal – Khazana Tradelink.</p>
<p>The company plans to utilize the funding to enhance its portfolio and EPC execution capabilities.</p>
<p>InSolare Energy’s portfolio comprises over 300 MW of EPC orders and 500 MW of solar parks under execution.</p>
<p>Last year, the company announced the completion of multiple projects, including a 70 MW solar park in Jalna, a 90 MW solar park in Karnataka, and a 40 MW captive project for a large cement company in Chhattisgarh.</p>
<p>Navashil Sharma, Founder &amp; CEO of InSolare Energy, said, “InSolare Energy is a customer-centric renewable energy solution provider with 14+ Years of experience in delivering solutions to Commercial &amp; Industrial clients in Pan India, which is built around values of Integrity, Innovation, Quality, Results, Respect and Discipline.”</p>
<p>Insolare Energy was ranked in the top 10 large-scale solar EPC companies during the first half of 2023 in Mercom’s <a href="https://www.mercomindia.com/product/mercoms-india-solar-market-leaderboard-1h-2023-market-shares-profiles" target="_blank" rel="noopener">India Solar Market Leaderboard 1H 2023</a>. The first six months of the year witnessed some notable shifts in market shares from the previous year.</p>
<p>According to Mercom Capital Group’s newly released <a href="https://mercomcapital.com/product/annual-q4-2023-solar-funding-ma-report/" target="_blank" rel="noopener">Annual and Q4 2023 Solar Funding and M&amp;A Report</a>, global corporate funding in the solar sector in 2023, including venture capital investments, public market funding, and debt financing, reached $34.3 billion, a 42% year-over-year increase from $24.1 billion. This was the largest amount raised in over a decade.</p>
<p>Another India-based solar EPC and consulting firm, Gensol Engineering, recently <a href="https://www.mercomindia.com/solar-epc-firm-equity-to-strengthen-its-finances" target="_blank" rel="noopener">raised</a> ₹9 billion (~$108.60 million) in equity capital through warrants convertible into equity shares on a preferential basis. The equity funding saw participation from international and domestic participants, including the Elara India Opportunity Fund, Aries Opportunities Fund, and Tano Investment Opportunities Fund.</p>


Renewable EPC Firm InSolare Energy Raises ₹660 Million

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