Sunsure Energy, one of India’s leading renewable power producers, announces the commencement of solar power supply to RACL Geartech Limited (BSE: RACLGEAR), a globally recognized manufacturer of high-precision automotive components. 6 million units of renewable energy will be supplied annually from Sunsure’s solar plant in Mahoba to RACL’s factory in Gajraula. The PPA was signed in July, 2023. Through this Power Purchase Agreement (PPA), RACL will be able to meet more than 40% of its Gajraula plant’s energy needs from clean energy, helping them offset a total of 4,300 metric tonnes of CO2e annually, and contributing significantly to their sustainability efforts.
RACL Geartech Limited, headquartered in Noida (Delhi-NCR), is an automotive components manufacturer with a global presence. With state-of-the-art manufacturing facilities located in Gajraula and Noida, the company employs over 800 skilled professionals and provides complex engineering solutions in the field of Transmission Gears & Shafts for Motorcycles & Scooters, 3 & 4 Wheeler Passenger & Light Cargo Vehicles, Tractors, Electric Cars, Agricultural Machinery, Off-Road Vehicles, Medium & Heavy Commercial Vehicles. The company is dedicated to sustainable operations aiming to produce around 50% of its electricity from non-fossil fuel sources within the next five years.
Shashank Sharma, CEO of Sunsure Energy, stated, “We are delighted to partner with RACL Geartech in their quest to transition to renewable energy as part of their ESG roadmap. We are extremely proud to say that our solar power solutions not only reduce carbon footprints, but also provide significant cost savings, contributing to a greener future. RACL Geartech is leading by example in the auto parts manufacturing sector, and is helping create a sustainable future.”
Jitender Jain, CFO of RACL Geartech, stated, “Partnering with Sunsure Energy is a significant step towards achieving our ESG goals. By integrating renewable energy into our operations, we are not only reducing our carbon footprint but also setting a benchmark in the manufacturing industry for sustainable practices. Our goal to produce 50% of our electricity from non-fossil fuel sources within the next five years aligns perfectly with this partnership.”
Sunsure Energy currently provides renewable energy solutions to 70+ Indian industrial companies across over 16 states, including multinationals like Sandoz, KSB Pumps, Emcure, Olon API, and more. The company has a 120 MW operational capacity in Uttar Pradesh and its customers in the state include some of the largest businesses across diverse sectors like Dabur, Inox Air Products, Kajaria, APL Apollo, Merino Industries, Orient Bell, amongst others.
About Sunsure Energy: Founded in 2014, Sunsure Energy is the preferred renewable energy solutions provider for India’s leading businesses transitioning to green power. As a leading Independent Power Producer (IPP), Sunsure enables businesses across India to embrace clean energy with ease and confidence through long-term Power Purchase Agreements (PPAs) that offset up to 70% of power use to renewable energy through a mix of solar, wind, and battery storage technologies. Sunsure is backed by Partners Group AG with an equity commitment of $400 million towards its vision of building the largest industrial decarbonization company in India and SE Asia. With 500 MW of assets under operation, 2.5 GW of renewable energy capacity under construction, and a target of 5 GW by the end of 2028, Sunsure Energy is committed to powering India’s energy independence and transforming every Indian business with green energy.
