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Renewable Energy Boost: $100M Fuels India's Green Future
9 Feb
Summary
- Radiance Renewables secured $100 million in equity funding.
- Investment aims to expand greenfield solar and hybrid assets.
- Funds will support battery storage and transmission projects.
Radiance Renewables, backed by Eversource Capital, has secured approximately $100 million in equity funding from Impact Fund Denmark and FMO. This capital infusion is set to propel the company's next phase of expansion within India's renewable energy sector.
The newly acquired funds will be strategically deployed across greenfield solar projects, hybrid wind-solar assets, and behind-the-meter installations. Radiance aims to enhance its service offerings for commercial and industrial clients.
This expansion will see Radiance's operational and under-development renewable energy portfolio grow beyond 2 gigawatt-peak. The company also plans to introduce battery energy storage solutions and invest in inter-state transmission projects.
This move aligns with India's increasing demand for reliable and cost-effective clean energy from its commercial and industrial sectors, supporting national decarbonisation targets.
