Radiance Renewables and InfraCo Asia, which is part of the Private Infrastructure Development Group (PIDG) have announced a joint venture. 

The JV, named Radiance InfraCo Renewables, will develop a portfolio of greenfield renewable energy (RE) projects for commercial and industrial (C&I) customers in the country. It will enable carbon emissions reduction in supply chains and operations to meet its sustainability goals.

The JV will primarily focus on solar projects and explore opportunities in wind-solar hybrid projects. It will create a platform managed in compliance with international standards of ESG principles. Radiance Renewables, backed by Eversource Capital, has a portfolio of more than one GW of operating and under-development capacity under its operational expenditure (OPEX) model.

The company has 79 C&I customers, including captive and third-party entities, and behind-the-mtrs (BTM)/rooftop customers across various industries. Through its strategic partnership with PIDG, it will bring together their strengths for a greener future. Radiance is committed to advance decarbonisation of the C&I sector, aiding the country in its energy transition, and will combat the adverse impacts of climate change.

Radiance InfraCo Renewables is projected to avoid nearly 1,65,000 tonne of carbon dioxide equivalent (tCO2e) greenhouse gas emissions each year, with an expected operating life of 25 years.