Fourth Partner Energy Raises $16 Million From European Investment Funds

India’s leading solar solutions provider Fourth Partner Energy has raised $16 million in mezzanine funding from a consortium of European impact investment funds, led by Symbiotics. Fourth Partner will utilise these funds for the construction of around 150 MW worth of new solar assets. “At Fourth Partner Energy, we are working hard to bring into India high-quality global financiers committed to the long-term impact of distributed solar… We will be utilising these funds for expanding our distributed solar footprint,” said Pradhyum Reddy, head, corporate finance at Fourth Partner Energy. Fourth Partner Energy has an operational portfolio of 400 MW of solar assets and is looking to add 350 MW capacity this fiscal. “Medium, small and micro enterprises, the backbone of the Indian economy, are likely to adopt solar energy at a large scale in the coming years as it is a cleaner and cheaper renewable energy alternative and provides tariff certainty for up to 25 years,” she said. Founded in 2010, Fourth Partner Energy has grown to become India’s largest company in the distributed solar sector, catering to over 150 major businesses including Walmart, Hindustan Unilever, Ferrero, UltraTech Cement, Coca Cola, PepsiCo, DMart, AkzoNobel, Skoda, Colgate Palmolive and Myntra.