en.Wedoany.com Reported - Sunsure Energy has recently secured INR 2.62 billion in project financing from the Dutch entrepreneurial development bank (FMO) and Axis Bank, which will be used for its 75 MWp open access solar project.

The financing will be utilized for Sunsure's latest project in Ilayangudi, Tamil Nadu. In its announcement, Sunsure noted that this financing marks the first project financing in the Indian group captive commercial and industrial (C&I) renewable energy sector under the collaboration between FMO and Axis Bank, aimed at supporting the continued maturation of India's commercial and industrial (C&I) clean energy market. The financing combines global development finance and domestic banking strength to support the next phase of India's commercial and industrial (C&I) energy transition.

In its comments, Sunsure stated that it values the trust of FMO and Axis Bank, believing this support reflects growing confidence in scalable renewable energy infrastructure, good governance, and rigorous execution, principles that continue to define Sunsure's growth.

Previously, round-the-clock (RTC) renewable energy solutions provider Sunsure Energy had secured INR 6.0622 billion in debt financing from Aseem Infrastructure Finance Limited and RBL Bank for multiple renewable energy projects. The financing package includes INR 4.6176 billion from Aseem Infrastructure Finance Limited for solar projects in Maharashtra and Uttar Pradesh, and INR 1.4446 billion in refinancing from RBL Bank for its solar project in Augasi, Uttar Pradesh.

Sunsure stated that the above financing supports solar projects in Maharashtra and Uttar Pradesh, which are crucial for advancing its UjjwalMaharashtra and UPShakti missions and powering the commercial and industrial (C&I) backbone of these two states. These projects also support the company's expansion in industrial regions, including Maharashtra, Tamil Nadu, Rajasthan, Karnataka, and Uttar Pradesh.

Sunsure previously stated that its operational renewable energy assets total approximately 700 MW, with over 7 GW under development in Maharashtra, Tamil Nadu, Uttar Pradesh, Rajasthan, and Karnataka. The company aims to reach a capacity of 10 GW by 2030.