Sunsure Energy has secured Rs 2.62 billion debt financing from FMO, the Dutch entrepreneurial development bank, and Axis Bank for its 75 MWp open-access solar project at Ilayangudi, Tamil Nadu.
The debt will fund the development and construction of the project, which will supply renewable power to commercial and industrial (C&I) consumers in Tamil Nadu through the open-access route. Of the total financing, Axis Bank has sanctioned approximately Rs 710 million. The transaction also marks FMO’s first project financing in India’s group captive C&I renewable energy segment.