According to India's Sunflag Steel Ltd. statement on Friday, April 25. The company has signed a long-term power purchase agreement with Sunsure Energy's special purpose vehicle (SPV) Sunsure Solarpark Thirty Seven, allowing Sunflag to procure 11 MW of solar power from the under-construction project on a self-consumption basis for up to 25 years.

Sunsure Solarpark Thirty Seven is a special purpose vehicle of Sunsure Energy that develops, builds, operates, and maintains power projects across India. Sunflag will invest INR 57.25 million to acquire and maintain a 25% stake in the special purpose vehicle.

Sunflag also said in order to achieve environmental, social, and corporate governance (ESG) goals, the company will continue to sign energy procurement agreements with renewable energy suppliers to meet electricity needs and reduce our carbon footprint. For instance, they already signed an agreement with three special purpose vehicles under Renew Power Limited to procure 71.34 MW of solar power over a 15-year period, with an option to extend to 25 years.