ADB, World Bank's IFC, and DEG pump $275 mn in Fourth Partner Energy

Quick Summary:

We want to take 4PE to other countries, especially lesser-developed ones, and replicate this model of energy transition.

Announcing the deal in Delhi, Subramaniam said they have a portfolio of 1.5 gigawatts (Gw) and are aiming to build a 3.5 Gw capacity by 2026-27.“While all the investors hold a 90 per cent stake, none hold the controlling stake.

We would be collaborating with these investors on innovative financing tools, invest in more energy technologies, and enter new geographical territories,” he said.

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Category: BusinessFinance

Markets: IndiaGermany

Topics: IFC DEG Equity investment Fourth Partner Energy Saif Dhorajiwala Vivek Subramaniam Sustainable model Green energy Renewable energy Battery storage Green hydrogen ADB

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-06 @ 18:11:39 (15 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 654 words

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Sentences: 23 lines

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Copyright Owner: © Business Standard

News ID: 21957090

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