Fourth Partner Energy raises $275 million from IFC-ADB-DEG consortium

Quick Summary:

Fourth Partner Energy Limited secured $275 million from IFC, ADB, and DEG to expand its renewable energy portfolio to 3.5 GW by 2026.

The investment will support new projects in Maharashtra, Uttar Pradesh, Tamil Nadu, and Gujarat.FPEL already has 1.5 GW of green assets and plans more projects to aid India's energy transition.

The Hyderabad-based FPEL already has an installed base of 1.5 GW of green assets and is gearing up to commission the first phase of its first 575 MW wind solar hybrid project under the inter-state transmission system (ISTS) route, in Karnataka, later during the current quarter.

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Article Details

Author / Journalist: Swati Bharadwaj

Category: EconomyBusiness

Markets: IndiaBangladeshChinaGermany

Topics: IFC ADB Business news Equity investment Renewable energy DEG Fourth Partner Energy

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-06 @ 21:22:44 (7 hours ago)

News Timezone: GMT +5:00

News Source URL: timesofindia.indiatimes.com

Language: English

Article Length: 794 words

Reading Time: 5 minutes read

Sentences: 24 lines

Sentence Length: 34 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Times of India

News ID: 21957918

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