Radiance Renewables, an Eversource Capital-backed renewable power platform, has raised about $100 million in fairness funding from Affect Fund Denmark and FMO to help its subsequent part of growth in India’s business and industrial renewable power market.

Affect Fund Denmark, the Danish authorities’s funding fund for creating international locations, and FMO, the Dutch Entrepreneurial Improvement Financial institution, are investing roughly $50 million every.

The corporate stated the capital shall be deployed to scale its operational renewable power capability past 2 gigawatt-peak (GWp) and to develop a pipeline of greater than 1 GWp by greenfield photo voltaic tasks, hybrid wind-solar property, and behind-the-meter installations for C&I clients.

Radiance additionally plans to broaden its choices by battery power storage options and spend money on inter-state transmission tasks to serve shoppers throughout key industrial states, amid rising demand for dependable and cost-effective clear energy to fulfill decarbonisation targets.

“As Radiance enters FY27, it’s primed to speed up its progress velocity, with enhanced operational capabilities and a strengthened stability sheet,” stated Dhanpal Jhaveri, Vice Chairman of Everstone Group and CEO of Eversource Capital.

Thomas Hougaard, Managing Director and Co-Head of Inexperienced Power and Infrastructure at Affect Fund Denmark, stated India stays a precedence marketplace for the fund’s clear power technique, including that supporting credible platforms accelerating decarbonisation is central to its mandate.

Ludger Middendorp, Head of Personal Fairness Power at FMO, stated the funding deepens FMO’s longstanding partnership with Eversource Capital and helps India’s low-carbon transition by scalable clear power platforms with robust ESG practices.

Eversource Capital is an equal three way partnership between Everstone Group and Lightsource bp, Europe’s largest photo voltaic developer.