PE Fund Investments
Fourth Partner Energy raises $275-M from IFC, ABD, DEG
Hyderabad-based renewable energy solutions platform Fourth Partner Energy Ltd (FPEL) has raised USD 275 million in equity funding from a consortium consisting of International Finance Corporation (IFC), Asian Development Bank (ADB) and Germany development bank DEG. IFC is leading the consortium with USD 125 million, while ADB is investing USD 100 million and Germany's DEG is putting in USD 50 million. The proceeds will be used for expansion plans, targeted at a portfolio of 3.5 GW of renewable energy assets by 2026.FPEL has an installed base of 1.5 GW of green assets and is set to commission the first phase of its maiden 575 MW wind solar hybrid project under the ISTS (Inter State Transmission System) route in Karnataka, later this quarter.
Between Nov 2015 and Aug 2022, Fourth Partner Energy had raised over USD 371 M from Norfund, TPG Growth, Infuse Ventures, British International Investments and Chennai Angels.For FY23, Fourth Partner Energy had reported about INR 337.22 Cr in Operating Income and about INR 199-Cr in Net loss.
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