Partners Group AG, a Switzerland-based private equity firm, plans to invest $300 million in Indian rooftop solar firm Sunsure Energy for a majority stake, according to a report citing unnamed sources.
The PE equity firm intends to grow Sunsure, one of India's largest solar roof engineering, procurement and construction (EPC) companies, as a green energy platform along the lines of how Actis LLP will build renewable energy platforms Sprng Energy and Ostro Energy developed.
Both Partners Group and Sunsure declined to comment on the matter.
Partners Group, which has approximately $131 billion in assets under management worldwide, has its Indian office in Mumbai. It is a major investor in logistics company Ecom Express Pvt Ltd.
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 O2 Power of state investment firm Temasek Holdings Pte.
Founded in 2014, Sunsure focuses on large-scale rooftop and open solar installations that provide electricity to the commercial and industrial (C&I) segment. Open access allows large electricity users to buy power from the open market instead of depending on a more expensive grid.
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