Fourth Partner Energy Gets 356 Cr. Local Currency Revolving Credit Facility

In Clean Fund, Clean Talk, News, Renewable Energy, Solar

Fourth Partner Energy, one of the country’s largest distributed solar companies, announced today that Bank of America is providing a local currency revolving credit facility to the tune of 356.5 Crore INR (50 Million USD Equivalent).

The developer will deploy these funds to further grow its solar operational portfolio over the next 18 months.

By providing the new revolving credit facility, Bank of America is helping to accelerate the transition to a cleaner and more sustainable power generation base in India.

To date, Fourth Partner Energy has executed distributed solar projects with a cumulative capacity of 200 MW across 23 states in India for over 150 corporate and government clients.

In 2018 The Rise Fund, the global impact investing arm of TPG, invested in Fourth Partner Energy, and since then has worked closely with the company to help create new pathways to expansion.

Fourth Partner Energy’s current portfolio includes projects across a range of commercial and industrial clients, such as Coca Cola, Hindustan Unilever, Schneider, and Walmart.

Fourth Partner Energy is looking to add 220-250 MW of capacity to its operational portfolio this year and is actively pursuing the Open Access Group Captive model.

The firm has commenced international operations across Sri Lanka, Vietnam, Bangladesh, Nepal and Myanmar.

This is a Syndicate News-Feed

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