Fourth Partner Energy has recently acquired a solar portfolio of 8.9 MW, consisting of distributed solar projects, from Statkraft India. This is Fourth Partner’s first acquisition within the current fiscal year.
Recently, Fourth Partner also secured funding of $125 million in equity funding from Norfund, the Norwegian Investment Fund for developing countries and existing shareholder, The RISE Fund (TPG). In April 2021, Fourth Partner Energy secured a $33 million line of mezzanine funding from the CDC Group.In 2020, the company announced a $15 million round of funding from Swiss climate action fund responsibility and a $16 million investment from a consortium of European lenders, led by Symbiotics.
Fourth Partner plans to add close to 100 MW of solar capacity to its portfolio in this financial year through the acquisition route. Overall, it has a target of 3GW of installed solar capacity by 2025.Currently, 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, the company has tied up with integrated energy major Indika Energy to offer solar solutions to corporates.