Sunsure and SECI Sign 300 MW Solar ISTS Power Purchase Agreement
Jan 28, 2025
PRNewswire
New Delhi [India], January 28: Sunsure Energy, the preferred renewable energy solutions provider for India's leading businesses transitioning to green power, marks a significant milestone by signing its first utility-scale solar Power Purchase Agreement (PPA) with the Solar Energy Corporation of India (SECI), a leading Navratna Central Public Sector Undertaking (CPSU). The agreement covers a capacity of 300 MW (450 MWp) with Inter-State Transmission System ISTS connectivity, marking the largest PPA in Sunsure's journey so far. The capacity was a part of SECI's Tranche XIII auction for ISTS solar capacity, which the company had won in March 2024.
Shashank Sharma, CEO of Sunsure Energy, said: "This agreement represents a pivotal milestone in Sunsure's journey. Partnering with SECI for this utility-scale solar project amplifies our efforts to expand and diversify our portfolio. Over the last decade, we have built exceptional capabilities and presence in the C&I segment, and it shall continue to fuel our growth over the next decade. We have made a foray in the Utility Segment as it provides us with opportunities to scale and establish a robust portfolio that integrates creditworthy C&I customers with sovereign-rated offtakers like SECI, all while maintaining healthy returns on equity. This project not only reaffirms our unwavering commitment to driving the power transition in India but also aligns with the vision of our PM Narendra Modi of making India an energy-independent nation.
Under the PPA, Sunsure will be developing the solar park in Bikaner, Rajasthan with an estimated development cost of Rs1,800 Crs. The projected completion date of the solar park would be December 2026 and the project will play a key role in company's project development goals of reaching 5 GW operational capacity by 2028.
About Sunsure Energy
Founded in 2014, Sunsure Energy is the preferred renewable energy solutions provider for India's leading businesses transitioning to green power. As a leading Independent Power Producer (IPP), Sunsure enables businesses across India to embrace clean energy with ease and confidence through long-term Power Purchase Agreements (PPAs) that offset up to 70% of power use to renewable energy through a mix of solar, wind, and battery storage technologies. Sunsure is backed by Partners Group AG with an equity commitment of $400 million towards its vision of building the largest industrial decarbonization company in India and SE Asia. With 500 MW of operational assets and a target of 5 GW by the end of 2028, Sunsure Energy is committed to powering India's energy independence and transforming every Indian business with green energy. The company is developing a significant portfolio of solar and wind energy projects across India to supply renewable energy to Commercial & Industrial clients, as well as utility offtakers like SECI and SJVN. www.sunsure-energy.com
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