Radiance Renewables Pvt. Ltd
Status: Proposed investmentWhy disclosure?
FMO is committed to making publicly available relevant investment information that informs stakeholders and enables them to engage directly with FMO on its investments which, in turn, enhances our investment decisions, the design and implementation of projects and policies, and strengthens development outcomes. Learn more
In case of questions
We welcome feedback on this proposed investment opportunity for FMO. The ending of the proposed investment phase is indicated on the right side of this page. In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our prospective customer?
Radiance Renewables Private Limited (“Radiance”) is one of India’s fastest growing Commercial and Industrial focused (“C&I”) renewable energy platforms which develops, owns, and operates distributed renewable energy generation projects for high quality clients. Radiance is active across India and promoted by Eversource Capital, a climate impact investor and partner of FMO.
What is our funding objective?
Radiance’s objective is to raise capital to fund growth of its platform of renewable energy projects in India, with a mix of expanding operational parks and developing new parks for the benefit of C&I customers. FMO’s investment is expected to catalyze growth of the company’s portfolio of renewable energy projects and advancing its presence across India.
Why do we want to fund this investment?
The investment opportunity aligns with FMO’s commitment to SDG 13 Climate Action. Radiance has received a 100% Green Label as they will only use the funds to contribute to decarbonizing energy production and consumption, which is critical in a country like India with a large growing economy. FMO’s funding is expected to act as a catalyst to attract commercial capital in the future.
What is the Environmental and Social categorization rationale?
The investment has been categorized as E&S Category B+ as Radiance’s policy focuses only on E&S Cat B+ projects as evidenced by their exclusion list excluding Cat A projects. All C&I renewable energy projects – both behind the meter and open access - carry PS1 to PS4 risks related to noise, dust, labor and working conditions, health and safety of workers and communities. The open access projects (and their respective transmission lines) can carry risks related to land acquisition and changes of land use (PS5- involuntary resettlement as well as PS6-Biodiversity, PS8- Cultural heritage), with PS7 being unlikely given the Indian context. However, as Radiance actively avoids E&S Cat A projects, they have put in place checks and balances to avoid higher risks related to PS5 to 8. These include ESG policies to identify, manage and monitor the environmental and social risks in their operations as well as public disclosure of their individual asset’s Environmental and Social Impact Assessment. FMO will work further with Radiance to strengthen its Environment & Social Management System to ensure that best practices are maintained throughout its operations during the upcoming period of rapid growth.
- Website customer/investment
- https://www.radiancerenewables.com/
- Region
- Asia
- Country
- India
- Sector
- Energy
- Publication date
- 8/21/2025
- Deadline for feedback
- 10/20/2025
- Total FMO financing
- USD 50.00 MLN
- Funding
- FMO NV
-
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B+