Indian renewable energy developer Radiance Renewables has raised $100 million in fresh capital from Denmark’s Investment Fund for Developing Countries and Dutch development bank FMO, strengthening its balance sheet as it scales clean energy assets across the country.

The funding reflects continued international interest in India’s renewable infrastructure, particularly platforms focused on distributed and commercial-scale clean power solutions.

Blended Financing to Support Portfolio Growth

According to disclosures, the $100 million raise includes equity and structured financing, allowing Radiance to expand without excessive leverage. The capital will be deployed to develop new renewable projects and acquire operational assets, primarily serving commercial and industrial customers seeking long-term clean power contracts.

Radiance focuses on rooftop solar, open-access renewable projects, and hybrid energy solutions that help businesses decarbonize operations while managing power costs.

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International Development Finance Backs Scale and Stability

The participation of Denmark’s development finance institution and FMO underscores the role of blended finance in accelerating energy transitions in emerging markets. Both investors have mandates to support climate-aligned infrastructure that delivers measurable emissions reductions while maintaining financial viability.

By backing Radiance, the funds are targeting scalable renewable platforms that can aggregate assets, standardize contracts, and attract further institutional capital over time.

Strengthening India’s Commercial Renewables Market

India’s commercial and industrial renewable segment continues to expand as corporates pursue sustainability targets and hedge against volatile grid tariffs. Platforms like Radiance act as intermediaries, developing and operating clean energy projects while offering long-term power purchase agreements to customers.

The new funding positions Radiance to increase installed capacity, diversify its technology mix, and expand its customer base across multiple states.

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Broader Signal for Climate Capital Flows

The transaction highlights a broader trend of global climate capital flowing into India’s energy transition, even as renewable markets in some regions face policy uncertainty. Development finance institutions are increasingly using equity and structured capital to crowd in private investors and de-risk early-stage growth.

With this $100 million raise, Radiance joins a growing group of Indian renewable platforms leveraging international capital to move from project-by-project development toward portfolio-scale deployment.

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