Eversource-Backed Radiance Renewables Raises $100 Million from Impact Fund Denmark and FMO for Expansion

Radiance Renewables, backed by Eversource Capital, announced an equity raise of $100 million on February 9, 2026.  

The capital will be used to broaden its renewable energy portfolio and support the growing demand for clean power from commercial and industrial customers. 

Funding Details and Allocation 

Impact Fund Denmark and the Dutch development bank FMO each contributed approximately $50 million. Radiance plans to allocate the funds to greenfield solar projects, hybrid wind solar assets and behind‑the‑meter installations for its core C&I clientele.  

Additional investment will target battery energy storage solutions and inter‑state transmission infrastructure, enabling the company to scale its operational pipeline beyond 2 GWp. 

Market Context and Demand 

The commercial and industrial sector in India is increasingly seeking reliable and cost‑effective renewable power to meet decarbonisation targets and manage energy expenses.  

This funding arrives as the sector’s appetite for solar and wind solar capacity accelerates, creating a favourable environment for developers focused on large‑scale, on‑site generation. 

Read More: The Whole Truth Raises $51 Million in Series D Round to Push Profitability and IPO Readiness! 

Strategic Significance for India 

The injection of $100 million reinforces India’s broader energy transition by adding substantial renewable capacity and supporting grid integration.  

By expanding battery storage and transmission links, Radiance aims to enhance the stability of renewable supply across key industrial states, contributing to national clean‑energy objectives. 

Conclusion 

Radiance Renewables has secured $100 million in equity from Impact Fund Denmark and FMO, earmarked for solar, wind solar, storage and transmission projects. The capital is set to increase the company’s renewable portfolio beyond 2 GWp and address rising C&I demand for clean power. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities or companies mentioned are only examples and not recommendations. This does not constitute a personal recommendation or investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.