Sunsure Energy has secured ₹262 crore in project financing from FMO, the Dutch entrepreneurial development bank, and Axis Bank for its 75 MWp open access solar power project located in Ilayangudi, Tamil Nadu. The funding marks a significant milestone for both the company and India’s growing commercial and industrial (C&I) renewable energy sector.
The financing is particularly notable as it represents FMO’s first project financing investment in India’s Group Captive C&I renewable energy market. The investment highlights increasing international interest in supporting India’s clean energy transition through commercial and industrial renewable energy projects.
The 75 MWp solar project is designed to supply clean and reliable electricity to commercial and industrial consumers across Tamil Nadu under the open access model. By providing renewable power, the project will help businesses reduce their dependence on conventional energy sources, lower carbon emissions, and meet their sustainability and decarbonisation goals.
The financing package combines support from a global development finance institution and a leading domestic bank, demonstrating growing confidence in the long-term potential of India’s C&I renewable energy market. According to Sunsure Energy, the partnership between FMO and Axis Bank reflects strong institutional backing for renewable energy infrastructure that supports India’s broader energy transition objectives.
The company expressed its appreciation to both financial institutions for their trust and support. Sunsure Energy stated that the investment reinforces confidence in its ability to develop scalable renewable energy projects while maintaining strong governance and disciplined project execution.
The successful financial closure is expected to support the timely development of the Tamil Nadu solar project and further strengthen the role of group captive renewable energy projects in meeting the increasing clean power demand from India’s commercial and industrial sector.
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