CDC Group, the UK’s development finance institution (DFI) and impact investor, today announced a 250 Cr investment into Fourth Partner Energy, India’s leading solar energy company for commercial and industrial businesses.
Fourth Partner Energy will deploy this mezzanine capital towards growing its renewable solutions platform across India and South Asia.
CDC Group’s investment will support India’s clean energy transition and enable provision of cleaner energy to businesses.
It will fund approximately 217 megawatts (MW) greenfield renewable power generation in India, to displace primarily thermal power generation, avoiding 258k tonnes of annual CO2 emissions.
There facility will catalyse growth of the sector by helping to accelerate uptake of renewable energy by corporates at a quicker pace.
CDC Group is committed to making long-term investments along with the investment partners, with a clear purpose to bolster efforts toward achieving a net-zero carbon future in India and across the region.
To date, Fourth Partner Energy manages a portfolio of 550 MW across its distributed and open access solar portfolios. The company has commenced operations across Sri Lanka, Bangladesh and Vietnam.
In Indonesia, 4PEL has tied up with integrated energy major Indika Energy to offer solar solutions to corporates there. They currently have an aggressive target to achieve 3GW of solar capacity across all our verticals by 2025.
This will mean significantly scaling up the current portfolio while growing the battery storage, energy trading and EV charging capabilities.
This is an Agency Feed; edited by Clean-Future Team
