Swiss Private Equity Firm to Acquire Renewable Energy Platform in India

Global private markets firm Partners Group, has, on behalf of its clients, agreed to acquire a majority stake in Sunsure Energy (Sunsure), a leading renewable energy and decarbonisation solutions platform in India.

The Bern headquartered investment group said it will invest up to US$400 million in the platform to transform Sunsure into a next-generation independent power producer.

Established in 2015, Sunsure has historically built solar plants for commercial and industrial 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 commercial and industrial customers through long-term Power Purchase Agreements. The Platform also plans to help customers meet decarbonisation 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 commercial and industrial customers consuming over 50% of the power generated in the country. This consumption is expected to continue rising in line with India’s real GDP growth. The vast majority of this power demand today is sourced from non-renewable sources.

Partners Group, which has extensive experience in the renewable energy and decarbonization sectors, said it will work closely with the Sunsure founding team and management on achieving the platform’s vision and delivering value-creation initiatives.

“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,” said Luv Parikh, Managing Director, Private Infrastructure Asia, Partners Group. “We intend to help companies operating in India meet decarbonization goals and assist in the country’s overall energy transition.”

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