New Delhi: Renewable energy solutions provider Sunsure Energy on Monday said it has secured a Rs 262 crore financing commitment for its open-access solar project in Ilayangudi, Tamil Nadu.
The financing is led by FMO, the Dutch entrepreneurial development bank, with the balance of approximately Rs 71 crore sanctioned by Axis Bank, a company statement said.
The transaction represents FMO's first project financing in the Group Captive Commercial & Industrial (C&I) renewable energy space in India.
The proceeds will fund the development and construction of the 75 MWp solar project in Ilayangudi.
The project will supply clean power to commercial and industrial offtakers across the state under the open access route, supporting their transition to renewable energy.
Shashank Sharma, founder, Chairman and CEO of Sunsure Energy, said, "We congratulate FMO for their entry into Group Captive C&I project financing, and Axis Bank for their continued support for C&I projects in India".
Marnix Monsfort, Director - Energy, FMO, said this transaction brings FMO's strong global practices and standards to the Indian C&I sector.
Vijay Mulbagal, Group Head - Wholesale Bank Coverage, Corporate Salary, Sustainability & CSR, Axis Bank, said the partnership with Sunsure Energy and FMO reflects its focus on supporting well-structured renewable energy infrastructure backed by strong governance and execution capability to deliver long-term impact.
Founded in 2014, Sunsure Energy is a renewable energy solutions provider for leading businesses and utilities.
