Partners Group has agreed to acquire a majority stake in Sunsure Energy, a renewable energy developer in India for up to $400m.
Partners said 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 3GW of operational capacity and will be focused on selling power directly to C&I customers through long-term Power Purchase Agreements.
Partners Group said it will work closely with the Sunsure founding team and management on achieving the vision and delivering value creation initiatives.
Luv Parikh, Managing Director, Private Infrastructure Asia, Partners Group, said: “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.
“We intend to help companies operating in India meet decarbonization goals and assist in the country’s overall energy transition.
“Through this investment, we will support Sunsure in executing on its pipeline of renewable projects and assist them in offering new services to C&I customers. We look forward to working with the team.”