Swiss firm Partners Group to buy majority stake in Sunsure

01 Dec 2022 CW Team

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 plans to grow Sunsure, one of India’s largest solar rooftop engineering, procurement and construction (EPC) companies, as a green energy platform on the lines of how Actis LLP developed renewable energy platforms Sprng Energy and Ostro Energy.

Both Partners Group and Sunsure declined to comment on the matter.

Partners Group, which has around $131 billion of assets under management globally, has its India office in Mumbai. It is a key investor in logistics firm 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 Singapore’s state investment firm Temasek Holdings Pte.’s O2 Power.

Founded in 2014, Sunsure focuses on large-scale rooftop and open access solar plants that supply electricity to the commercial and industrial (C&I) segment. Open access allows large users of electricity to buy power from the open market instead of depending on a more expensive grid.

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