⚡ Quick Read
- What happened: Sunsure Energy has signed a long-term PPA to supply 4.7 MWp of solar power to Jakson Engineering’s Noida corporate office and Greater Noida manufacturing facility.
- Why it matters: This deal highlights the growing trend of industrial players adopting captive solar models to offset high grid electricity costs and meet sustainability mandates.
- Watch: Sunsure’s progress toward its 10 GW portfolio target by 2030, supported by its $400 million equity commitment from Partners Group AG.
Background and Context
The Indian renewable energy landscape is witnessing a significant shift as large-scale industrial and manufacturing entities increasingly turn to captive solar solutions to decarbonize their operations. Sunsure Energy, a prominent renewable energy solutions provider, has solidified its position in this segment by entering into a long-term power purchase agreement (PPA) with Jakson Engineering Ltd, a key player within the Jakson Group. This partnership underscores the strategic importance of integrating clean energy into corporate infrastructure to reduce reliance on conventional power grids.
Key Details
Under the terms of the agreement, Sunsure Energy will supply approximately 7.28 million kWh of solar power annually to Jakson Engineering. The project, which involves a capacity of 4.7 MWp, is designed to cater to two specific locations: Jakson’s corporate office in Noida and its manufacturing facility in Greater Noida. The environmental impact of this transition is substantial, with the project expected to offset nearly 5.2 million kilograms of carbon dioxide emissions annually, an environmental benefit equivalent to planting over 2.3 lakh trees.
For Jakson Engineering, the integration is expected to offset approximately 80% of conventional energy consumption at its corporate office and up to 40% at its manufacturing facility. This move aligns with the broader corporate sustainability goals of the Jakson Group, which is itself an active participant in India’s renewable energy ecosystem.
What This Means for EPCs and Developers
For EPC contractors and developers, this PPA serves as a case study in the viability of the Commercial and Industrial (C&I) segment. Sunsure Energy’s operational model demonstrates how developers can leverage equity backing—in this case, a $400 million commitment from Partners Group AG—to scale rapidly across diverse sectors including FMCG, data centers, and heavy engineering. The ability to provide round-the-clock renewable energy is becoming a critical differentiator for developers looking to secure long-term contracts with creditworthy industrial clients.
What Happens Next
Sunsure Energy continues to expand its footprint, currently boasting 700 MW of operational assets and 7.1 GW under various stages of development across states like Maharashtra, Uttar Pradesh, Tamil Nadu, Rajasthan, and Karnataka. The company has set an ambitious target of reaching a 10 GW portfolio by 2030. As industrial decarbonization becomes a priority for India’s manufacturing sector, developers should expect an uptick in demand for similar long-term captive power arrangements, necessitating robust project pipelines and reliable execution capabilities.
