Renewable energy solutions provider Sunsure Energy has secured INR 262 crore in debt financing for its 75 MW open-access solar project in Ilayangudi, Tamil Nadu. The funding will support the development and construction of the project, which is expected to supply clean electricity to commercial and industrial (C&I) consumers across the state.
The financing is led by FMO, the Dutch entrepreneurial development bank, which has provided the majority of the debt. Axis Bank has sanctioned the remaining approximately INR 71 crore. The transaction marks FMO’s first project financing in India’s Group Captive Commercial and Industrial (C&I) renewable energy sector.
Once operational, the solar project will provide renewable power to businesses under the open-access model, enabling commercial and industrial customers to reduce their dependence on conventional energy sources and lower carbon emissions.
The investment aligns with FMO’s global strategy of supporting green energy initiatives and expanding access to sustainable infrastructure financing. It also contributes to India’s target of achieving 500 GW of non-fossil fuel-based electricity capacity by 2030.
Axis Bank said its participation reflects the bank’s continued commitment to accelerating India’s energy transition by financing renewable energy projects that support industrial decarbonisation and long-term sustainable growth.
Commenting on the development, Shashank Sharma, Founder, Chairman and CEO of Sunsure Energy, said the financing demonstrates investor confidence in the company’s execution capabilities and governance standards. He added that the funding would strengthen Sunsure’s mission of building a next-generation clean energy platform for businesses in India.
Marnix Monsfort, Director – Energy at FMO, said the partnership supports India’s renewable energy ambitions while bringing international project financing standards to the country’s C&I renewable energy market. He noted that the collaboration with Axis Bank delivers a structured financing solution that aligns with FMO’s focus on creating long-term development impact.
Vijay Mulbagal, Group Head – Wholesale Bank Coverage, Corporate Salary, Sustainability and CSR at Axis Bank, said the partnership highlights the potential of cross-border collaborations in mobilising structured debt financing for renewable energy infrastructure. He added that the project reflects the bank’s focus on supporting well-governed, execution-ready clean energy assets that contribute to India’s energy transition.
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