Renewable energy solutions provider Sunsure Energy has secured a ₹262 crore financing commitment for its open-access solar project in Ilayangudi, Tamil Nadu. According to the company's statement, the financing is led by FMO, the Dutch entrepreneurial development bank, with the balance of approximately ₹71 crore sanctioned by Axis Bank. This marks FMO's debut in India's Group Captive Commercial & Industrial (C&I) renewable energy sector, as reported by ETEnergyworld and The Economic Times.
The proceeds will fund the development and construction of the 75 MWp solar project in Ilayangudi, as reported by ETEnergyworld. The project will supply clean power to commercial and industrial offtakers across the state under the open access route, supporting their transition to renewable energy. Founded in 2014, Sunsure Energy is a renewable energy solutions provider for leading businesses and utilities.
As reported by ETEnergyworld, this transaction represents FMO's first project financing in the Group Captive C&I renewable energy space in India. Shashank Sharma, founder, Chairman and CEO of Sunsure Energy, stated that the company's vision, execution capabilities and governance have earned trust from FMO and Axis Bank, strengthening their resolve to build a next generation energy platform that supports sustainable, climate-aligned businesses in India. Marnix Monsfort, Director - Energy at FMO, emphasized that this transaction brings FMO's strong global practices and standards to the Indian C&I sector.
According to ETEnergyworld, Vijay Mulbagal, Group Head - Wholesale Bank Coverage, Corporate Salary, Sustainability & CSR at Axis Bank, highlighted that the partnership with Sunsure Energy and FMO reflects Axis Bank's continued focus on supporting renewable energy capacity creation for the country's industrial sector. The bank's participation demonstrates its commitment to backing well-structured renewable energy infrastructure backed by strong governance and execution capability to deliver long-term impact.
