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Sunsure Energy secures USD 50 million for a 150 MWp solar park in Maharashtra

A financing of USD 50 million has been granted to Sunsure Energy by Aseem Infrastructure Finance to develop a 150 MWp open-access solar park in Solapur, Maharashtra, targeting industrial clients.
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Sunsure Energy has secured a USD 50 million financing from Aseem Infrastructure Finance Limited. This financing supports the construction of a 150 MWp open-access solar park located in Solapur, Maharashtra. The first phase of the project is already operational and supplies electricity to several industrial companies in the state. The full commissioning of the park is scheduled for March 2025.

Power purchase agreements for industrial clients

The project is managed through several Special Purpose Vehicles (SPVs), which facilitate the legal and financial management of the solar park. Sunsure Energy has signed long-term Power Purchase Agreements (PPAs) with industrial companies, including Sandoz, Bharat Forge, Kirloskar Brothers, Lupin, and Wonder Cement.

These agreements ensure structured electricity supply to meet industrial needs while optimizing energy costs for the stakeholders.

Project structure and financing

According to available information, the financing was structured to accommodate the diversity of clients and the specific characteristics of the project. The solar park spans several SPVs, each associated with distinct industrial buyers. This model reduces risks related to client concentration and facilitates revenue distribution.

The project highlights the growing role of private initiatives in the solar sector, addressing the increasing demand for competitive and reliable energy solutions in local industries.

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