SunShell's Green Leap: $14M to Fuel Resco Solar Expansion

Kolkata-based renewable energy solutions provider SunShell Power plans to raise $14 million by FY 2026-27 to expand its solar power installation capacity under the Renewable Energy Service Company (Resco) model.

The company aims to secure $2 million in FY26 and $12 million in FY27 to scale its solar infrastructure. According to Co-founder and CEO Sayantan Chatterjee, the funding will support SunShell Power in achieving 10 MW of installed capacity by the next fiscal year, with a long-term goal of surpassing 50 MW in FY27.

"Under the Resco model, we must invest upfront in solar projects. We are in discussions with impact investors focused on green energy and ESG initiatives and may raise $2 million by June 2025," Chatterjee told businessline.

Founded in 2014, SunShell Power sees strong growth potential in the Resco model, which provides stable annual recurring revenue. The company anticipates a multi-fold increase in Resco installations, outpacing the 15% annual growth of its Engineering, Procurement, and Construction (EPC) segment.

By FY27, SunShell Power aims to reach 70 MW capacity under Resco, aligning with its projected EPC capacity. “Both segments are expected to contribute equally to our revenue in the next five years,” Chatterjee added.

The company has executed solar projects for Indian Railways, Central Public Sector Enterprises, and State Governments. Last month, it inaugurated a 250 KW solar power plant at Prayagraj railway station, coinciding with preparations for Maha Kumbh 2025.

News by Rahul Yelligetti.