Radiance Renewables raises $100 million amid credit rating downgrade
Radiance Renewables, backed by Eversource Capital, just landed $100 million in fresh funding—split evenly between Impact Fund Denmark and Dutch bank FMO.
The timing is interesting, as this comes after their credit rating was downgraded earlier this year.
The new cash will help Radiance stay on track with its growth and expansion goals.
Funding to help Radiance ramp up capacity
Radiance builds and operates solar and hybrid wind-solar projects for businesses across India.
They're also working on battery storage and transmission infrastructure, all aimed at helping India shift toward clean energy.
This funding will help them ramp up capacity beyond 2 GWp and develop a solid pipeline of new projects.
Current capacity and future goals
Current solar capacity: 644 MWp (as of Nov 2025)
Under construction: 217 MWp
Upcoming pipeline: 256 MWp
Goals: Hit 1.1 GWp in the next year or so, aiming for 2 GWp by FY2028