Fourth Partner Energy Secures Rs 780cr Refinancing for Rooftop Solar Expansion

Fourth Partner Energy Ltd. (FPEL) has successfully closed a INR 780 crore refinancing agreement with NIIF Infrastructure Finance Limited (NIIF IFL), an infrastructure debt fund specializing in sustainable financing for Indian infrastructure assets. 

This deal covers the majority of FPEL’s rooftop solar portfolio, which comprises 370 MW of installed capacity spread across 24 states.

FPEL supplies renewable power to several leading corporates, including Hindustan Unilever Limited (HUL), D-Mart, Ultratech, Walmart, Hyundai, Colorcon, and Tata Consultancy Services (TCS). 

Renewable Portfolio 

Beyond rooftop solar, Fourth Partner Energy has built a deeply diversified renewable portfolio. The company has commissioned more than 1.2 GW of projects through the open access route and is currently developing over 800 MW of wind-solar hybrid power. 

Its implementation of Battery Energy Storage Systems (BESS) has surpassed 50 MWh in capacity. All generation assets are managed through FPEL’s in-house, AI-enabled energy management system, enabled for real-time performance optimization and monitoring.

Expansion and Global Backing

Last year, FPEL raised USD 275 million in equity from the International Finance Corporation (IFC), Asian Development Bank (ADB), and DEG, supporting its growth plans. The company aims to expand its installed capacity to 9 GW by 2031, toward its goal of becoming a fully integrated renewable energy platform. 

The USD 275 million investment was targeted to support an interim asset portfolio goal of 3.5 GW by 2026. Recently, FPEL partnered with Adani Wind to procure 165 MW of wind turbines for clean energy projects across India.