Fourth Partner Energy Raises Rs 126 Crore to Expand Project Portfolio

Fourth Partner Energy has raised Rs 126 crore in mezzanine funding from a consortium of European impact investment funds, led by Symbiotics.

Fourth Partner Energy, one of India’s leading solar solutions firm for corporates, has announced that it has raised USD 16 million (~ Rs 126 crore) in mezzanine funding from a consortium of European impact investment funds, led by Symbiotics. This is the second round of funding announced by the firm this fiscal after responsAbility Investments A.G. pumped in USD 15 million in June.

Symbiotics, a leading market-access platform for impact investing, has arranged for the issuance of this bond in partnership with Netherland’s sustainable banking majors, Triodos Bank and ASN Bank. This bond marks the consortium’s foray into India’s commercial solar sector. The firm will utilise these funds towards the construction of around 150 MW worth of new solar assets.

Pradhyum Reddy, Head – Corporate Finance at Fourth Partner Energy said, “this line of credit from marquee impact investors like Symbiotics, Triodos and ASN is testament to the role of Commercial & Industrial customers driving the transition to clean energy. At Fourth Partner Energy, we are working hard to bring into India high-quality global financiers committed to the long-term impact of distributed solar.

“We have a very healthy orderbook, and these two rounds of funding in quick succession, in what has otherwise been a challenging year, will allow us to execute these projects and adhere to our client commitments. We will be utilising these funds for expanding our distributed solar footprint. We are delighted to welcome Symbiotics, Triodos and ASN as our Fourth Partners!”

The Hyderabad based firm has an operational portfolio of 400 MW of solar assets currently and is looking to add close to 350 MW capacity this fiscal. The company is also constructing solar parks across Uttar Pradesh, Maharashtra and Tamil Nadu as part of its Open Access portfolio.

“The issuance of this bond is fully aligned to Symbiotics’ mission to foster sustainable development and wider adoption of green energy in emerging and frontier economies. We are excited to nurture and selectively grow this segment even further in India with the disbursal of this local currency loan to Fourth Partner Energy,” noted Daniel Schriber, Head of Investments at Symbiotics.

Recently, the firm had reported that it had signed a Power Purchase Agreement (PPA) with India’s largest private-sector manufacturer of passenger and freight trains Titagarh Wagons Limited, to supply 4.8 MW of solar power for the firms’ wagon and steel foundries at Titagarh and its passenger coach and propulsion unit at Uttarpara, West Bengal.

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Ayush Verma

Ayush is a staff writer at and writes on renewable energy with a special focus on solar and wind. Prior to this, as an engineering graduate trying to find his niche in the energy journalism segment, he worked as a correspondent for