Overview

• SUN Renewables is a fully integrated independent solar power company with a focus on distributed and utility scale solar PV power generation in India. It is headquartered in New Delhi, India with a subsidiary office in Bangalore and market coverage of all major Indian cities
• SDCL was mandated to assess value maximisation options for the group and secure strategic equity capital to accelerate their growth objectives in India

Approach

SDCL provided financial advisory, including:

• Review of market strategy, focused on 3 clear sectors in the Indian solar market;
• Review of company’s existing financial structure and capital options;
• Drafting of all front end corporate finance materials (teasers, CIMS, financial models etc.)
• Identifying investors, managing equity process, coordinating due diligence efforts and closing of capital financing

Outcome

• SDCL successfully secured an initial sale of SUN Renewables C&I operating portfolio to undisclosed buyer
• A Heads of Terms was signed allowing both parties the option to deliver future solar PV projects under a framework agreement at the asset level
• SDCL continues to support SUNR on an expanded growth strategy in Asia, including energy storage and hydrogen technologies