Sunsure And SECI Sign 300 MW Solar ISTS Power Purchase Agreement

PPA marks Sunsure’s foray in the Utility Scale PPAs

Sunsure Energy, India’s preferred renewable energy solutions provider for leading businesses transitioning to green power, marks a significant milestone by signing its first utility-scale solar Power Purchase Agreement (PPA) with the Solar Energy Corporation of India (SECI), a leading Navratna Central Public Sector Undertaking (CPSU) dedicated to the development and expansion of renewable energy capacity. The agreement covers a capacity of 300 MW (450 MWp) with Inter-State Transmission System ISTS connectivity, marking the largest PPA in Sunsure’s journey so far. The capacity was a part of SECI’s Tranche XIII auction for ISTS solar capacity, which the company had won in March 2024.

Shashank Sharma, CEO of Sunsure Energy, said: “This agreement represents a pivotal milestone in Sunsure’s journey. Partnering with SECI for this utility-scale solar project amplifies our efforts to expand and diversify our portfolio. Over the last decade, we have built exceptional capabilities and presence in the C&I segment, and it shall continue to fuel our growth over the next decade. We have made a foray in the Utility Segment as it provides us with opportunities to scale and establish a robust portfolio that integrates creditworthy C&I customers with sovereign-rated offtakers like SECI, all while maintaining healthy returns on equity. This project not only reaffirms our unwavering commitment to driving the power transition in India but also aligns with the vision of our Hon’ble PM Shri Narendra Damodardas Modi of making India an energy-independent nation.”

Under the PPA, Sunsure will be developing the solar park in Bikaner, Rajasthan with an estimated development cost of ₹1,800 Crs. The projected completion date of the solar park would be December 2026 and the project will play a key role in company’s project development goals of having 5 GW operational capacity by 2028.