Social VC Investments
Renewables player Radiance raises $100-M from Danish fund, Holland’s FMO
Mumbai-headquartered Radiance Renewables , an Eversource Capital-backed renewable energy platform, has raised about USD 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 about USD 50 million each. 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.
In Nov 2018, Radiance Renewables had attracted about USD 143 M from Everstone.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
