PARTNERS GROUP PLANS TO INVEST $300 MILLION IN SUNSURE ENERGY

NEW DELHI: Partners Group AG, a Switzerland-based private equity (PE) firm, is planning to invest $300 million in leading rooftop solar engineering, procurement and construction (EPC) firm Sunsure Energy for a majority stake, two people aware of the development said.

The private equity firm plans to grow Sunsure, as a green energy platform, on the lines of how Actis Llp developed renewable energy platforms Sprng Energy and Ostro Energy.

Partners Group, which has around $131 billion of assets under management globally, is an investor in logistics firm Ecom Express Pvt. Ltd.

“Partners Group is looking to invest $300 million in Sunsure Energy,” said one of the two people cited above. Some of the other clean energy platforms in India backed by private equity investors include Actis Llp’s Blupine Energy, KKR’S Virescent Infrastructure, European alternative asset manager EQT and Singapore’s state investment firm Temasek Holdings Pte.’s O2 Power.

A Partners Group spokesperson, in an emailed response, said, “We have no comment on this.” Sunsure Energy founder and chief executive Shashank Sharma did not respond to phone calls or text messages.

Founded in 2014, Sunsure focuses on large-scale rooftop and open-access solar plants that supply electricity to the commercial and industrial (C&I) segment. Open access allows large users of electricity to buy power from the open market instead of depending on a more expensive grid.