+
SHV Energy to infuse 1,800 cr in SunSource Energy
POWER & RENEWABLE ENERGY

SHV Energy to infuse 1,800 cr in SunSource Energy

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

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

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Infrastructure Opportunity Outlook by IMPACCT.Info

India’s infrastructure pipeline is witnessing dynamic activity across stages — from immediate bidding to future planning. IMPACCT segments these into three categories: Immediate, 3–6 Month, and Future Opportunities, enabling businesses to identify, prepare, and participate in high-value tenders and projects across sectors.To read full article Click Here ..

Next Story
Real Estate

Glass, Reframed!

Glass façades, quintessential aesthetic building envelopes globally, have been widely adopted in India as well. But when the focus is high-performance building systems that deliver energy efficiency, comfort and architectural identity, glass isn’t the only preference. Combination solutions, involving glass and some other material, improve façade outcomes. Some combinations come at comparable prices, some at a higher price. Here is a selection of performance-oriented solutions...To read the full story Click Here ..

Next Story
Infrastructure Urban

Beyond Building Faster

India’s cities are expanding at an unprecedented pace, bringing new infrastructure and development opportunities while also intensifying challenges around mobility, public spaces, liveability and supporting infrastructure. The question, therefore, is not simply whether India can build faster, but whether it can build cities that work better.At a CW webinar, Are We Designing Better Cities – or Just Building Faster?, moderator Ar. Samir Shaikh, Founding Principal, AR&UD Studio, brought together perspectives from design, development, master planning and technology...To read the full artic..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code