Founded in 2010, Fourth Partner Energy is a distributed energy management company with in-house capabilities across design, engineering, construction, service, monitoring and financing, on Friday announced a $70 million investment from The Rise Fund, a global impact investment fund managed by TPG Growth.
With the fund-raise, the company plans to accelerate its growth through the RESCO (renewable energy service company) model across industrial and commercial, corporate and public sector clients. The company is also looking to expand its operations to other geographies including South-East Asia, West Asia and Africa.
The Rise Fund will leverage the extensive investing and business building experience and track-record of TPG Growth’s global network and team to help Fourth Partner Energy grow and develop the businesses.
Fourth Partner Energy has executed over 1,500 projects across 22 states in India and lists Ultratech, Ferrero, Nestle, Sintex, Raymonds, Pepsi, Mars, ICICI Bank, Coca Cola, D-Mart, Schneider Electric, Myntra, Big Basket, BITS, Symbiosis University, IIM- Bangalore and Indian Railways as some of its key clients. The Hyderabad-based company has previously raised funding from clean technology focused fund Infuse Ventures.