Radiance Renewables, an Eversource Capital-backed firm engaged in renewable vitality options, on Monday raised $100 million in fairness funding from Impression Fund Denmark (IFD) and FMO.
Impression Fund Denmark is Denmark authorities’s funding fund for creating nations, and FMO is the Dutch Entrepreneurial Growth Financial institution.
Based on an announcement, Radiance will deploy the brand new capital in the direction of increasing its operational capability to 2 gigawatt peak (GWp+) and creating a 1 GWp+ pipeline via greenfield photo voltaic, hybrid wind-solar, and behind-the-meter initiatives.
Dhanpal Jhaveri, Vice Chairman, Everstone Group and CEO, Eversource Capital, mentioned, “As Radiance enters FY27, it’s primed to speed up its development velocity, with enhanced operational capabilities and a strengthened stability sheet. The funding reinforces our conviction that well-structured renewable vitality platforms can ship sustained returns whereas assembly the evolving vitality wants of India’s business and industrial sectors.”
Thomas Hougaard, Managing Director and Co-Head of Inexperienced Vitality and Infrastructure, Impression Fund Denmark, mentioned, “India is a precedence market inside Impression Fund Denmark’s clear energy-focused funding technique, and supporting credible platforms that speed up decarbonisation in high-growth demand segments is central to our mandate.”
The corporate additionally goals to reinforce its product choices to prospects via battery vitality storage options and deploy capital in interstate transmission initiatives to service business and industrial (C&I) shoppers throughout key states. It can additionally strengthen the corporate’s skill to develop operations amid C&I decarbonisation demand.
Ludger Middendorp, Head of Personal Fairness Vitality, FMO, mentioned, “FMO stays steadfast in catalysing India’s low-carbon transition via platforms that ship clear vitality at scale alongside exemplary ESG practices. This dedication deepens our longstanding partnership with Eversource Capital, a confirmed chief in sustainable infrastructure investing.”
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