SunSource Energy, a solar power firm, has entered into a project financing agreement with SunFunder, an international solar finance company, with an investment to enable its growth in Southeast Asia. The investment will be used to provide project financing for an industrial solar installation in Thailand.
SunSource Energy is a leading provider of C&I solar solutions in India and Southeast Asia, with over 300 projects in 24 states. SunSource Energy manages the entire development process for its customers, developing, building, owning, and operating solar power projects based on proven renewable technologies and hybrid solutions, including energy storage, to provide innovative solutions to large C&I establishments in the pharmaceutical, data centre, cement, and other process industries.
In May 2021, SHV Energy acquired a majority stake in SunSource Energy. With this investment, SunSource planned to increase its solar portfolio to over 550 MWp by 2023. It intended to further grow its solar portfolio to over 1 GW of solar projects in the commercial and industrial segment.