Swiss investment manager Partners Group, on behalf of its clients, has agreed to acquire a majority stake in Haryana-based Sunsure Energy for an investment of up to $400 million in the platform.
Founded in 2015, Sunsure has built solar plants for commercial & industrial (C&I) customers and third-party renewable power producers in India.
“Under Partners Group’s ownership, Sunsure will be transformed into a next-generation independent power producer that will build and own utility-scale solar, wind, solar-wind hybrid, and battery storage renewable energy projects,” stated Partners Group.
The platform is targeting over 3 GW of operational capacity and will focus on selling power directly to C&I customers through long-term power purchase agreements (PPAs).
The platform also plans to help customers meet decarbonization and energy cost reduction targets by expanding the scope of existing client relationships to provide additional value-added services, such as energy-as-a-service and carbon credit management.
Partners Group, which has extensive experience in the renewable energy and decarbonization sectors, will work closely with the Sunsure founding team and management on achieving the Platform’s vision and delivering value creation initiatives.
The Sunsure founding team includes Shashank Sharma, Shantanu Faugaat, Manish Mehta, Kartikeya N. Sharma, and Tarunveer Singh.
Partners Group’s Private Infrastructure business has $21 billion in assets under management and has made over 130 investments in 18 countries globally.
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