Sunsure Focused On Delivering Clean Power To C&I Sector
Under the leadership of Shashank Sharma, Founder-Chairman and CEO, Sunsure Energy has risen to be counted as a notable player in the highly competitive and infrastructure-dependent commercial and industrial (C&I) decarbonisation and renewable energy space. It is also credited with securing USD 400 million in what is touted as the largest single-round equity investment in a C&I renewable energy company in India.
The C&I sector commands over 50 per cent of India's total electricity demand with the overall power demand expected to exceed 300 GW by 2030. Meeting this substantial demand with renewable energy necessitates an investment of USD 200 billion over the next seven to eight years.
Sunsure aspires to be a key player in deploying renewable energy capacity and investing in cutting-edge technology solutions for industrial decarbonisation. "We aim to have approximately 15 GW of installed capacity to ensure stable revenue, coupled with other solutions, resulting in a profit after tax exceeding USD 300 million," says Sharma
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Profitable From Inception
Sharma says he decided to build a company in the C&I RE space fired up by his mission of making India self-reliant in energy and bolstering the nation's infrastructure. Sunsure is currently focused on delivering green and affordable power to the C&I sector, elevating their financial performance and fostering grassroots development through the establishment of power infrastructure in underdeveloped areas.
Behind Sunsure’s ambitious mission is a young and dynamic team boasting an average age of less than 32 years, a standout factor in an industry where teams and management are typically a decade or two older. "There is no parallel to Sunsure in this aspect throughout the entire country," says Sharma. The company has achieved profitability from its inception, reinforcing its commitment to responsible business practices and nation-building.
Talking about the challenges faced while building a C&I renewable energy company in India, Sharma says they had to overcome a number of hurdles whether by way of revenue generation, intricate financing structures and the perception of high risk by traditional lenders which led to the funding hurdles. He informs that Sunsure has successfully navigated these challenges through strategic planning, transparent communication with stakeholders, exploration of alternative financing models and leveraging government support initiatives to ensure the financial viability of infrastructure endeavours.
