Renewables energy firm Fourth Partner raises $125-M from Norfund, TPG

Hyderabad-based Fourth Partner Energy has raised USD 100 million from Norwegian investment fund Norfund and USD 25 million from existing shareholder TPG Rise Fund. Fourth Partner will use the funds toward business expansion across Indian and international markets. It is targeting 3 GW of installed solar capacity by 2025, and expansion of capabilities across energy storage, EV charging infrastructure. Investec Capital Services India, Shardul Amarchand Mangaldas and Dua & Associates were advisors to Fourth Partner Energy and TPG for this transaction, while Avendus Capital and Cyril Amarchand Mangaldas advised Norfund.