Sunsure Energy, a C&I renewable energy solution provider in India, has signed a memorandum of understanding (MoU) with REC Ltd for debt finance of INR 10,000 crore to support the development of 3 GW of solar, wind, hybrid, and battery energy storage projects.
The REC funding will help Sunsure Energy significantly expand its portfolio of open access hybrid projects across India, including intrastate solar and solar-wind hybrid projects. By supplying clean energy to commercial and industrial customers, these projects are estimated to offset 5 million tonnes of carbon dioxide annually.
Sunsure is backed by Partners Group AG with an equity commitment of $400 million. It has 500 MW of assets under operation and 2.5 GW of renewable energy capacity under construction, and targets 5 GW by the end of 2028.
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