SHV Energy to infuse 1,800 cr in SunSource Energy

06 May 2021 CW Team

Netherlands-based energy firm SHV Energy will invest around Rs 1,800 crore in SunSource Energy, a leading provider of distributed energy for commercial and industrial (C&I) customers in India.

A leading global distributor of liquified petroleum gas (LPG), SHV Energy has marked its entry into the solar energy space by acquiring a majority stake in SunSource Energy headquartered in Noida.

SHV Energy, a Dutch family-owned multinational founded 125 years ago and leading global distributor of LPG is anticipated to invest Rs 1,800 crore in the following two years to increase the solar energy generation capacity of SunSource Energy to 550 MW from the existing 65 MW. The exact value of the venture is not yet revealed.

SunSource Energy is one of the leading distributed solar companies in India, founded in 2010, providing solar solutions for commercial and industrial customers in India and South-East Asia.

The company is looking forward to long-term collaboration with SunSource Energy, said Bram Gräber, CEO, SHV Energy. The company is committed to supporting its solar projects that are in line, he further added.

SHV Energy would not be looking for more solar procurements in India. As per sources, SHV Energy was involved in negotiations with Fourth Partner Energy, a leading solar energy firm in India.

The company already operates in India through its Super Gas brand, a leading local LPG player founded in 1996. He said this new joint venture will directly boon our company's capacity to extend its portfolio of projects for both commercial and industrial customers.

As part of this transaction, the original investor Neev Fund, which is promoted by India’s largest commercial lender SBI, and the UK Government, has obtained a successful exit from the company. Kushagra Nandan and Adarsh Das, the company’s co-founders, will continue to manage the company and will remain shareholders.

This investment will enable us to leverage SHV Energy’s presence globally and expertise to emerge as a prominent global distributed solar company.

SunSource, founded in 2010, is involved in the design, engineering and procurement, and construction of solar projects. The company expanded in 2018 to spend on commercial and industrial solar projects to sell energy to its customers.

The company also develops and invests in off-site commercial and industrial projects recognised as open access solar projects.

Image Source

Also read: National Solar Mission: Installations now 40% of 2022 target

"Join industry leaders at RAHSTA Expo, India's premier platform for roads, highways and traffic infrastructure. Register now to explore innovations, network with experts and shape the future of mobility."

Netherlands-based energy firm SHV Energy will invest around Rs 1,800 crore in SunSource Energy, a leading provider of distributed energy for commercial and industrial (C&I) customers in India. A leading global distributor of liquified petroleum gas (LPG), SHV Energy has marked its entry into the solar energy space by acquiring a majority stake in SunSource Energy headquartered in Noida. SHV Energy, a Dutch family-owned multinational founded 125 years ago and leading global distributor of LPG is anticipated to invest Rs 1,800 crore in the following two years to increase the solar energy generation capacity of SunSource Energy to 550 MW from the existing 65 MW. The exact value of the venture is not yet revealed. SunSource Energy is one of the leading distributed solar companies in India, founded in 2010, providing solar solutions for commercial and industrial customers in India and South-East Asia. The company is looking forward to long-term collaboration with SunSource Energy, said Bram Gräber, CEO, SHV Energy. The company is committed to supporting its solar projects that are in line, he further added. SHV Energy would not be looking for more solar procurements in India. As per sources, SHV Energy was involved in negotiations with Fourth Partner Energy, a leading solar energy firm in India. The company already operates in India through its Super Gas brand, a leading local LPG player founded in 1996. He said this new joint venture will directly boon our company's capacity to extend its portfolio of projects for both commercial and industrial customers. As part of this transaction, the original investor Neev Fund, which is promoted by India’s largest commercial lender SBI, and the UK Government, has obtained a successful exit from the company. Kushagra Nandan and Adarsh Das, the company’s co-founders, will continue to manage the company and will remain shareholders. This investment will enable us to leverage SHV Energy’s presence globally and expertise to emerge as a prominent global distributed solar company. SunSource, founded in 2010, is involved in the design, engineering and procurement, and construction of solar projects. The company expanded in 2018 to spend on commercial and industrial solar projects to sell energy to its customers. The company also develops and invests in off-site commercial and industrial projects recognised as open access solar projects. Image Source Also read: National Solar Mission: Installations now 40% of 2022 target

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

Real Estate

07 Jul 2026

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

Infrastructure Urban

07 Jul 2026

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..