India-based Sunsure Energy secures equity investment from Partners Group

Switzerland-based global private equity firm Partners Group has agreed to acquire a majority stake in Sunsure Energy, an Indian renewable energy and decarbonization solutions platform, for $400 million (approximately INR 3,290 crores).

The proceeds from the transaction are expected to transform Sunsure Energy into a next-generation independent power producer.

Post-closing, the Gurgaon-headquartered Sunsure Energy will build and own utility-scale solar, wind, solar-wind hybrid, and battery storage renewable energy projects to help Indian businesses achieve their carbon emission targets.

Luv Parikh — Partners Group Private Infrastructure Asia Managing Director said: “Sunsure is a transformational, next-generation infrastructure investment opportunity in India’s growing renewable energy sector, which has been a thematic focus area at Partners Group for many years.

“We intend to help companies operating in India meet decarbonization goals and assist in the country’s overall energy transition.

“Through this investment, we will support Sunsure in executing on its pipeline of renewable projects and assist them in offering new services to C&I customers. We look forward to working with the team.”

India-based Sunsure Energy secures equity investment from Partners Group. Photo courtesy of SUNSURE.

Partners Group’s equity commitment is expected to help Sunsure Energy achieve its target of 3GW operational capacity.

Shashank Sharma — Sunsure Energy Founder and CEO said: “We believe Sunsure’s transition into an independent power producer is the best way to ensure more businesses benefit from low-cost solar and wind power in the future.

“Partners Group’s extensive experience in the renewables and decarbonization sectors across North America, Europe, and Asia Pacific, as well as its financial resources, make the firm an ideal partner for the Sunsure platform.”

Founded in 2015, Sunsure Energy has constructed solar plants for commercial and industrial customers and third-party renewable power manufacturers in India.

Partners Group’s private infrastructure business with $21bn in assets under management has made more than 130 investments in 18 countries worldwide.

This deal follows the sale of CWP Renewables, an Australian renewable energy developer, by Partners Group earlier this week to Squadron Energy.