Fourth Partner Energy has raised an investment amount of $70 million from The Rise Fund, which is a global impact investment fund managed by TPG Growth. Investec acted as the advisor to this transaction for Fourth Partner Energy with KPMG and Shardul Amarchand Mangaldas provided diligence and legal advisory to The Rise Fund and TPG Growth.
Fourth Partner Energy has announced plans to use this investment to strengthen its position in the renewable energy sector and accelerate its growth through the RESCO model across industrial and commercial corporate, and public sectors. The company is expected to use the fund to fulfil its target of managing over 1 GW of distributed solar assets by 2022. In addition, this will allow the company to deliver new solutions and expand its operations in South East Asia, the Middle East and Africa. According to Mercom India, Fourth Partner Energy was the third largest rooftop solar PV installer in India in 2017.