Sunsure has historically built solar plants for Commercial & Industrial (“C&I”) customers and third-party renewable power producers in India. Under Partners Group’s ownership, Sunsure will be transformed into a next-generation independent power producer that will build and own utility-scale solar, wind, solar-wind hybrid, and battery storage renewable energy projects. The Platform is targeting over 3 GW of operational capacity and will be focused on selling power directly to C&I customers through long-term Power Purchase Agreements (“PPAs”). The Platform also plans to help customers meet decarbonization and energy cost reduction targets by expanding the scope of existing client relationships to provide additional value-added services, such as energy-as-a-service and carbon credit management. India is the third largest electricity market in the world, with C&I customers consuming over 50% of the power generated in the country.
Partners Group, a leading global private markets firm, has, on behalf of its clients, agreed to acquire a majority stake in Sunsure Energy (“Sunsure” or “the Platform”), a leading renewable energy and decarbonization solutions platform in India. Partners Group will invest up to USD 400 million in the Platform.
Partners Group, which has extensive experience in the renewable energy and decarbonization sectors, will work closely with the Sunsure founding team and management on achieving the Platform’s vision and delivering value creation initiatives.
Sunsure is well-positioned to achieve positive stakeholder impact over the long term by helping businesses reduce their carbon emissions. There is also a strong economic rationale for India’s C&I customers to purchase renewable power directly from independent producers such as Sunsure. The government’s far-sighted and favorable renewable energy policy, as well as India’s resilient economic growth, are additional tailwinds that attracted us to Sunsure and the Indian renewable energy space.