Fourth Partner Energy (FPEL) has successfully secured funding worth $275 million from International Finance Corporation (IFC), Asian Development Bank (ADB) and DEG. This investment is expected to fund FPEL’s business expansion including 3.5 GW of renewable energy assets by 2026.
IFC, a member of the World Bank group, has invested $125 million; ADB has infused $100 million and DEG has contributed the remaining $50 million.
Currently, FPEL has an installed capacity of 1.5 GW of green assets. It will also commission phase-1 of its 575 MW wind-solar hybrid project under the Inter State Transmission System in Karnataka in the coming months. It is also developing additional capacities of 1.2 GW of open access projects across Maharashtra, Uttar Pradesh, Tamil Nadu, and Gujarat.
In July 2023, FPEL had commissioned a 70 MW wind-solar facility in Gondal, Gujarat.
