Mumbai, India – 12th Sept 2024 – Sunsure Energy, the preferred renewable energy solutions provider, and Lupin Limited (LUPIN), a leading global pharmaceutical company, today announced the signing of a 21 MW (31.5 MWp) solar Open Access Power Purchase Agreement (PPA). Through this agreement, Sunsure will supply solar power to Lupin’s Tarapur facility in India, sourced from its 100 MW (150 MWp) solar plant in Solapur. This deal is another significant step in Lupin’s journey along increased usage of renewable power across its manufacturing plants.
Shashank Sharma, Founder & CEO of Sunsure Energy, commented, “Our partnership with Lupin marks a significant step in our journey to enable pharmaceutical sector’s transition to renewable energy. This partnership demonstrates that Sunsure is the preferred renewable energy solutions provider for the pharmaceutical industry. We look forward to supporting Lupin in their future decarbonization efforts as well.”
Ramesh Swaminathan, ED, Global CFO and Head API Plus SBU, Lupin said, “At Lupin, we focus on enhancing lives through innovative research and fostering sustainable manufacturing practices. Our partnership with Sunsure Energy is part of our comprehensive decarbonization strategy and furthering our commitment to sustainability and reducing our environmental impact. Reducing our carbon emissions requires concrete actions and we at Lupin have been working hard by investing in renewable energy and other energy saving interventions. This Open Access PPA marks another significant step in our ESG journey and reaffirms our ongoing commitment to sustainability.”
Sunsure is developing solar and wind energy parks of a total capacity of 500 MW in Maharashtra. In addition to Lupin, Sunsure has signed PPAs to supply power with leading businesses like KSB Pumps, Dabur, Sandoz, Emcure, Inox Air Products and more. Across India, Sunsure Energy has provided renewable energy solutions to 70+ Indian industrial companies across 16 states.
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. https://sunsure-energy.com/
About Lupin
Lupin Limited is a global pharmaceutical leader headquartered in Mumbai, India, with products distributed in over 100 markets. Lupin specializes in pharmaceutical products, including branded and generic formulations, complex generics, biotechnology products, and active pharmaceutical ingredients. Trusted by healthcare professionals and consumers globally, the company enjoys a strong position in India and the U.S. across multiple therapy areas, including respiratory, cardiovascular, anti-diabetic, anti-infective, gastrointestinal, central nervous system, and women’s health. Lupin has 15 state-of-the-art manufacturing sites and 7 research centers globally, along with a dedicated workforce of over 22,000 professionals. Lupin is committed to improving patient health outcomes through its subsidiaries – Lupin Diagnostics, Lupin Digital Health, and Lupin Manufacturing Solutions. To know more, visit www.lupin.com or follow us on LinkedIn https://www.linkedin.com/company/lupin