Renewable-energy platform Radiance Renewables has raised $100 million in fairness from the Danish government-backed improvement finance establishment Affect Fund Denmark (IFD) and Dutch entrepreneurial improvement financial institution FMO, with every investing $50 million.
The funding marks a major enhance for the Everstone Capital-backed platform, accelerating growth throughout India’s fast-growing clear vitality panorama.
The Mumbai-based firm plans to deploy the capital throughout greenfield photo voltaic tasks, hybrid wind-solar property, and behind-the-meter installations concentrating on its core business and industrial (C&I) prospects.
It goals to scale its operational and under-development renewable vitality portfolio past 2 gigawatt-peak (GWp), with battery storage and transmission tasks additionally within the pipeline.
The funding comes at a pivotal time, as India’s C&I sector more and more seeks dependable and cost-effective renewable energy options to fulfill decarbonization targets and handle rising vitality prices.
It additionally aligns with the nation’s broader vitality transition objectives and addresses surging demand for clear energy from industrial customers, notably from information centres and increasing manufacturing operations searching for to scale back emissions forward of carbon border taxes.
Strategic shift
The contemporary capital infusion follows a strategic pivot by the corporate, which had halted its sale course of in Could 2025 after garnering curiosity from main world traders, as reported VCCircle then.
It opted to pursue progress via this mezzanine funding spherical. The shift in technique coincided with the appointment of Nitin Bhatia as chief govt, signalling a brand new route for the corporate.
This newest funding follows Radiance’s October 2024 capital increase of ₹5.5 billion as a part of a ₹6.8 billion (~$77.47 million) financing spherical from infrastructure debt fund NIIF Infrastructure Finance Ltd (NIIF IFL), alongside peer Sunsure Power.
The corporate presently operates 510 megawatts of capability throughout the nation and goals to scale its portfolio to roughly 2GWp by the tip of 2026-27.
Radiance’s fundraise displays broader momentum in India’s renewable vitality sector. Funding in renewables rose 15% to $68 billion in 2025, whereas the nation added a report 22GW of capability within the first half of the 12 months—the highest-ever set up in a six-month interval—in response to Tracxn information.
The sector attracted $23 billion in international funding between April 2020 and June 2025, with India rising because the world’s largest recipient of improvement finance funding in 2024, securing about $2.4 billion for clear vitality interventions.
Latest mega-deals embody Ayana Renewable Energy’s ₹12,000 crore ($1.53 billion) plan to develop 2GW of tasks in Karnataka and Tata Energy’s ₹70,000 crore ($8.42 billion) dedication so as to add 10GW of photo voltaic and wind capability in Tamil Nadu over the following 5 to seven years.
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