en.Wedoany.com Reported - On July 7, Indian independent power producer Sunsure Energy advanced financing for a 75MWp open access solar photovoltaic project in Tamil Nadu, securing a bank loan of INR 2.62 billion. The open access solar project is being developed by Sunsure Energy, with funding from the Dutch development bank FMO and India's Axis Bank. FMO led this financing round, while Axis Bank provided a loan of INR 710 million.

Located in Ilayangudi, Tamil Nadu, the open access solar project will supply electricity to commercial and industrial users. Open access solar projects typically serve corporate clients with significant electricity consumption, long-term power demand, and carbon reduction goals, where power generators supply renewable electricity to users through the grid or dedicated arrangements. With this financing, Sunsure Energy will secure funding for project construction, equipment procurement, construction, and grid connection.

Backed by Partners Group, Sunsure Energy's operations cover solar, wind, and battery energy storage projects. The company currently has 700MW of operating assets, with an additional 7.1GW of projects at various stages of development, and has set a target to build a 10GW portfolio by 2030. The advancement of this open access solar project will expand renewable electricity procurement options for commercial and industrial users in India, while also providing a project foundation for new solar photovoltaic capacity in Tamil Nadu. Subsequent execution priorities will focus on project construction, user contracting, power settlement, and grid connection commissioning.