Renewable energy solutions providers, Radiance Renewables and Sunsure Energy, have received cumulative funding of ₹6.8 billion (~$77.47 million) from NIIF Infrastructure Finance (NIIF IFL).

Mumbai-based Radiance Renewables and Gurugram-based Sunsure Energy have received funding of ₹5.5 billion (~$62.6 million) and ₹1.3 billion (~$14.8 million), respectively, from NIIF IFL.

Radiance will utilize the funding to support renewable energy projects for commercial and industrial (C&I) businesses across Karnataka, Maharashtra, and Uttar Pradesh, and to retire its existing debt facilities.

The company has commissioned over 51 open access projects, with nearly 1 GW of projects currently under development. Sunsure has commissioned over 500 MW of projects, with more than 7.6 GW of projects in the pipeline.

Sunsure will utilize the funding for the refinancing of its three operational solar captive C&I in Uttar Pradesh.

In September 2025, Sunsure commissioned an 82.5 MW group captive solar project in Jhansi in Uttar Pradesh. The project supplies solar power to Haldiram’s, APL Apollo, and to one of the country’s largest data centers.

In July 2025, the company won NTPC Vidyut Vyapar Nigam’s auction to set up interstate transmission system-connected 250 MW/1,000 MWh standalone battery energy storage systems under the build-own-operate model. Sunsure won 125 MW/500 MWh at a tariff of ₹6.64 (~$0.0768)/kWh.

In April 2025, it also entered into a long-term power purchase agreement with Nagpur-headquartered Sunflag Iron and Steel to supply power from an 11 MW solar project in Dhule, Maharashtra.

In February 2025, Sunsure secured ₹1.28 billion (~$14.69 million) in long-term debt financing from Tata Capital and Aditya Birla Finance for its 49 MW open-access solar project in Augasi, Uttar Pradesh.

According to Mercom India’s 1H and Q2 2025 Solar Funding and M&A Report, total global corporate funding for the solar sector dropped by 39% year-over-year to $10.8 billion in the first half of 2025 from $17.6 billion.