Fourth Partner Energy receives Rs 5 million loan to provide solar for non-profit entities

Fourth Partner Energy,has received a loan of Rs 5 million from Grameen Impact India, a non-banking finance corporation registered under the Reserve Bank of India, towards its Power@1 programme for 18 months. The company will use the funds to implement its Power@1 programme at the Madras Diabetes Research Centre in Tamil Nadu. Through the Power@1 programme, Fourth Partner Energy aims to provide electricity to non-profit organisations like government schools, rural hospitals, and others at a rate of Rs 1 per kWh.

A pure play engineering, procurement and construction company at the time of its formation, Fourth Partner Energy’s journey began with the installation of solar pumps and small rooftop projects. In fact, one of its initial projects involved the solarisation of rural ATMs for ICICI Bank. Since then the company has slowly and steadily expanded its scale by adapting itself to market demands and evolving into a project developer. Fourth Partner Energy now offers end-to-end services including site survey, feasibility studies, project design, financial solutions, project execution, and operations and maintenance (O&M) for project life cycle. Fourth Partner Energy has a dedicated, in-house vertical that provides O&M for all projects to ensure maximum plant up-time and optimum power generation. Apart from this team of service engineers, the company boasts of an IoT-based solution for monitoring and controlling its assets across the country.

Fourth Partner Energy’s offerings primarily include capex- and opex-based solar plants, with a higher share in the latter owing to market dynamics and recent rounds of fundraising. The company commissioned eight solar projects with a capacity of 3,116 kWp in Telangana under Solar Energy Corporation of India’s rooftop scheme, in April 2019, and a 1 MW project at the Tirupati Airport in July 2019. In addition, it executed a 10 MW solar power plant for Bharathi Cement at the latter’s manufacturing facility in Kadapa, Andhra Pradesh, in September 2019. The company’s other clients include Walmart, Andhra Bank, D-Mart, Airtel, Britannia, Bridgestone, Unilever, Schneider, NTPC and Axis Bank.

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