Mumbai: Radiance Renewables, an Eversource Capital-backed renewable energy platform, has raised about $100 million in equity funding from Impact Fund Denmark and Dutch entrepreneurial development bank FMO, to support its next phase of expansion.
Impact Fund and FMO are investing approximately $50 million each, officials said.
Radiance plans to deploy the funds across greenfield solar projects, hybrid wind-solar assets and behind-the-meter installations for its core commercial and industrial (C&I) customers, scaling its operational and under-development renewable energy portfolio beyond 2 gigawatt-peak (GWp).
The company also intends to expand its offerings through battery energy storage solutions and invest in inter-state transmission projects to serve customers across key industrial states.
Thomas Hougaard, managing director and co-head of green energy and infrastructure at Impact Fund Denmark, said India remains a priority market for the fund's clean energy strategy.
The investment comes amid rising demand for renewable power from India's commercial and industrial sector, which is increasingly seeking reliable and cost-effective clean energy solutions to meet decarbonisation targets and manage energy costs.
Radiance, one of the key platforms in the C&I renewable energy space, said the expansion would also contribute to India's broader energy transition by supporting greater integration of renewables into the national grid.
Impact Fund and FMO are investing approximately $50 million each, officials said.
Radiance plans to deploy the funds across greenfield solar projects, hybrid wind-solar assets and behind-the-meter installations for its core commercial and industrial (C&I) customers, scaling its operational and under-development renewable energy portfolio beyond 2 gigawatt-peak (GWp).
The company also intends to expand its offerings through battery energy storage solutions and invest in inter-state transmission projects to serve customers across key industrial states.
Thomas Hougaard, managing director and co-head of green energy and infrastructure at Impact Fund Denmark, said India remains a priority market for the fund's clean energy strategy.
The investment comes amid rising demand for renewable power from India's commercial and industrial sector, which is increasingly seeking reliable and cost-effective clean energy solutions to meet decarbonisation targets and manage energy costs.
Radiance, one of the key platforms in the C&I renewable energy space, said the expansion would also contribute to India's broader energy transition by supporting greater integration of renewables into the national grid.