Fourth Partner Energy (FPE) has collected Rs 110 crore ($14.5 million) in debt funding from Swiss private banking company responsAbility, Economic Times India reports.
This marks FPE’s third round of funding anchored by responsAbility through its climate finance funds. The capital is expected to be used to construct new assets across the company’s distributed solar and open access portfolios.
FPE currently manages more than 400 megawatts of assets for more than 150 corporate and government clients in India. The firm is reportedly looking to add close to 350 megawatts of capacity across both portfolios and is currently building solar parks in Maharashtra, Tamil Nadu and Uttar Pradesh.
“We believe strong partnerships can lower the barriers to green financing,” said Sameer Tirkar, principal climate finance for responsAbility. “We are bullish on the potential of India’s solar sector, especially adoption by commercial and industrial off-takers wh
