Renewable EPC Firm Insolare Energy Raises ₹660 Million

InSolare Energy, a Bengaluru-headquartered renewable developer and engineering, procurement, and construction (EPC) company, has raised €660 million (-$7.96 million) in a growth funding round. The funding was led by Negen Capital with participation from Mukul Aggarwal, Anchorage Capital Fund and Ankit Mittal — Khazana Tradelink. The company plans to utilize the funding to enhance its portfolio and EPC execution capabilities. InSolare Energy's portfolio comprises over 300 MW of EPC orders and 500 MW of solar parks under execution. Last year, the company announced the completion of multiple projects, including a 70 MW solar park in Jalna, a 90 MW solar park in Karnataka, and a 40 MW captive project for a large cement company in Chhattisgarh. Navashil Sharma, Founder & CEO of InSolare Energy, said, "InSolare Energy is a customer-centric renewable energy solution provider with 14+ Years of experience in delivering solutions to Commercial & Industrial clients in Pan India, which is built around values of Integrity, Innovation, Quality, Results, Respect and Discipline." Insolare Energy was ranked in the top IO large-scale solar EPC companies during the first half of 2023 in Mercom's India Solar Market Leaderboard IH The first six months of the year witnessed some notable shifts in 2023. market shares from the previous year.