+
InSolare Energy Raises Rs.660 Million Led by Negen Capital
POWER & RENEWABLE ENERGY

InSolare Energy Raises Rs.660 Million Led by Negen Capital

InSolare Energy, a prominent player in the renewable energy sector headquartered in Bengaluru, has successfully secured ?660 million (~$7.96 million) in a recent growth funding round. The financing was spearheaded by Negen Capital, with notable participation from Mukul Aggarwal, Anchorage Capital Fund, and Ankit Mittal ? Khazana Tradelink.

The infusion of funds comes at a pivotal time for InSolare Energy as it aims to bolster its portfolio and engineering, procurement, and construction (EPC) execution capabilities. With a portfolio already boasting over 300 MW of EPC orders and 500 MW of solar parks under execution, the company is poised for further expansion and market dominance.

Notably, InSolare Energy marked significant milestones in the past year, completing multiple noteworthy projects including a 70 MW solar park in Jalna, a 90 MW solar park in Karnataka, and a 40 MW captive project for a leading cement company in Chhattisgarh.

Navashil Sharma, Founder & CEO of InSolare Energy, highlighted the company's commitment to delivering customer-centric renewable energy solutions, leveraging over 14 years of industry experience. He emphasized InSolare Energy's core values of Integrity, Innovation, Quality, Results, Respect, and Discipline that have underpinned its success.

The company's achievements were further underscored by its inclusion in the top 10 large-scale solar EPC companies during the first half of 2023, as per Mercom?s India Solar Market Leaderboard 1H 2023. This recognition attests to InSolare Energy's stature and contribution to the burgeoning solar energy landscape in India.

In a broader context, the solar sector has been experiencing robust growth globally, as evidenced by Mercom Capital Group's latest report. In 2023, global corporate funding in the solar sector, encompassing venture capital investments, public market funding, and debt financing, surged to $34.3 billion, marking a remarkable 42% year-over-year increase. This surge in funding represents the largest amount raised in over a decade, signaling the growing investor confidence in renewable energy ventures.

In parallel developments within the Indian solar industry, Gensol Engineering, another leading solar EPC and consulting firm, recently secured ?9 billion (~$108.60 million) in equity capital. The substantial equity funding, facilitated through warrants convertible into equity shares on a preferential basis, attracted participation from both international and domestic investors, including the Elara India Opportunity Fund, Aries Opportunities Fund, and Tano Investment Opportunities Fund.

With InSolare Energy's latest funding round and the broader surge in investments in the solar sector, the stage is set for further innovation, expansion, and sustainability in India's renewable energy landscape, driving the nation closer to its ambitious clean energy targets.

InSolare Energy, a prominent player in the renewable energy sector headquartered in Bengaluru, has successfully secured ?660 million (~$7.96 million) in a recent growth funding round. The financing was spearheaded by Negen Capital, with notable participation from Mukul Aggarwal, Anchorage Capital Fund, and Ankit Mittal ? Khazana Tradelink. The infusion of funds comes at a pivotal time for InSolare Energy as it aims to bolster its portfolio and engineering, procurement, and construction (EPC) execution capabilities. With a portfolio already boasting over 300 MW of EPC orders and 500 MW of solar parks under execution, the company is poised for further expansion and market dominance. Notably, InSolare Energy marked significant milestones in the past year, completing multiple noteworthy projects including a 70 MW solar park in Jalna, a 90 MW solar park in Karnataka, and a 40 MW captive project for a leading cement company in Chhattisgarh. Navashil Sharma, Founder & CEO of InSolare Energy, highlighted the company's commitment to delivering customer-centric renewable energy solutions, leveraging over 14 years of industry experience. He emphasized InSolare Energy's core values of Integrity, Innovation, Quality, Results, Respect, and Discipline that have underpinned its success. The company's achievements were further underscored by its inclusion in the top 10 large-scale solar EPC companies during the first half of 2023, as per Mercom?s India Solar Market Leaderboard 1H 2023. This recognition attests to InSolare Energy's stature and contribution to the burgeoning solar energy landscape in India. In a broader context, the solar sector has been experiencing robust growth globally, as evidenced by Mercom Capital Group's latest report. In 2023, global corporate funding in the solar sector, encompassing venture capital investments, public market funding, and debt financing, surged to $34.3 billion, marking a remarkable 42% year-over-year increase. This surge in funding represents the largest amount raised in over a decade, signaling the growing investor confidence in renewable energy ventures. In parallel developments within the Indian solar industry, Gensol Engineering, another leading solar EPC and consulting firm, recently secured ?9 billion (~$108.60 million) in equity capital. The substantial equity funding, facilitated through warrants convertible into equity shares on a preferential basis, attracted participation from both international and domestic investors, including the Elara India Opportunity Fund, Aries Opportunities Fund, and Tano Investment Opportunities Fund. With InSolare Energy's latest funding round and the broader surge in investments in the solar sector, the stage is set for further innovation, expansion, and sustainability in India's renewable energy landscape, driving the nation closer to its ambitious clean energy targets.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

KONE Opens India's First Digital Experience Centre in Pune

KONE, a global elevator and escalator manufacturer, has inaugurated its first Digital Experience Centre (DEC) in India, located in Pune. The facility aims to showcase how artificial intelligence (AI), connectivity and data-driven technologies can enhance customer experiences and improve building operations.The centre was inaugurated by Jussi Herlin, Executive Vice Chair, KONE Corporation; Philippe Delorme, President and CEO, KONE; and Nandan Nilekani, Co-founder and Chairman of the Board, Infosys.Designed as an interactive customer environment, the facility demonstrates digital solutions cover..

Next Story
Infrastructure Urban

CII GreenCo Launches Circularity Guidelines for Indian Industry

The Confederation of Indian Industry (CII) GreenCo Council has launched the CII GreenCo Circularity Guidelines – Pilot Version at the 17th CII GreenCo Waste & Resource Management Summit 2026 in Chennai. The initiative aims to strengthen resource efficiency, waste reduction and circular economy practices across Indian manufacturing and process industries.The guidelines introduce a structured framework with circularity indices covering raw materials, consumables, packaging and other resource inputs. These indicators will help industries assess existing practices, identify opportunities to ..

Next Story
Infrastructure Energy

Global Electronics Association Launches IPC-1783-CO2E Standard

The Global Electronics Association has introduced IPC-1783-CO2E, a new international standard aimed at improving consistency, transparency and comparability in product carbon footprint reporting across the electronics manufacturing industry.The standard, titled International Standard for Data Collection and Reporting of CO2 Equivalent (CO2e) Emissions for the Electronics Manufacturing Supply Chain, provides industry-specific guidance for collecting, estimating and reporting carbon emissions data.With increasing regulatory requirements and customer expectations, electronics manufacturers face c..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code