SunBorne Energy Raises $5 Million for India Solar Plans

SunBorne Energy Holdings LLC, the Indian solar power company backed by billionaire Vinod Khosla, raised $5 million for project development.

“This is a part of our ongoing fundraising,” Chief Operating Officer Gagan Vermani said in an e-mail yesterday, without identifying the investor.

SunBorne won a contract to build a 10-megawatt solar-thermal project in India’s Karnataka state in April. It completed a 15-megawatt plant in Gujarat state in December.

The Gurgaon-based company may seek to raise as much as $20 million, according to a filing with the U.S. Securities and Exchange Commission.

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