IFC, ADB, DEG invest $275 mn in Fourth Partner Energy
4 months, 2 weeks ago

IFC, ADB, DEG invest $275 mn in Fourth Partner Energy

Live Mint  

New Delhi: C&I-focused renewable energy company Fourth Partner Energy Ltd has secured a funding of $275 million from a consortium of World Bank’s International Financial Corporation, Asian Development Bank and the German Investment Corporation, DEG. In a statement, the company said that the equity infusion would help FPEL’s business expansion plans and help it reach the target of 3.5 GW renewable energy asset portfolio by 2026. FPEL priorities Vivek Subramanian, Co-founder & ED, Fourth Partner Energy said, “Our investors and lenders keep coming back as financiers because FPEL prioritises commercial viability and robust returns, while focusing on scaling the business. Fourth Partner Energy is now poised to transform the region’s clean energy landscape and assist more businesses in reaching their RE100 goals in a just, equitable manner.” Imad N Fakhoury, IFC’s Regional Director for South Asia noted that reducing the energy sector’s carbon footprint is critical for realizing India’s green ambitions.

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History of this topic

ADB to provide Rs 250 million to strengthen India's power sector
1 year ago

ADB to provide Rs 250 million to strengthen India's power sector

Deccan Chronicle  

Chennai: The Asian Development Bank has approved a Rs 250 million policy-based loan to strengthen India’s power sector by improving financial sustainability and facilitating the shift to renewable energy. “ADB has been working with the Government of India to help ramp up its transition to clean and renewable energy and facilitate policy actions to ensure a sustainable, inclusive, and climate-friendly …

Norfund invests additional ₹350 cr in Fourth Partner Energy
1 year, 4 months ago

Norfund invests additional ₹350 cr in Fourth Partner Energy

Live Mint  

New Delhi: Norwegian Investment Fund for developing countries, 'Norfund' has announced a fresh investment of ₹350 crore in renewable energy solutions platform Fourth Partner Energy. This is the second round of equity infusion by Norfund into Fourth Partner Energy, following its $100 million investment in June 2021. Vivek Subramanian, co-founder & executive director at Fourth Partner Energy said, “India’s green …

AIMCo, OMERS, Brookfield eye Fourth Partner Energy deal
1 year, 11 months ago

AIMCo, OMERS, Brookfield eye Fourth Partner Energy deal

Live Mint  

Canada’s Alberta Investment Management Corp., Ontario Municipal Employees’ Retirement System, Brookfield Asset Management Inc., and New York-based I Squared Capital are looking to invest in renewable energy firm Fourth Partner Energy Pvt. The deal involves buying private equity firm TPG Capital’s 52% stake in Hyderabad-based Fourth Partner Energy at an expected enterprise value of around $700 million and a fresh …

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