Hyderabad-based Fourth Partner Energy has mandated Investec to raise a capital of $ 150 million through stake sale in the firm. The company focuses on the commercial and industrial (C&I) segment and the deal is considered to be ranked in the largest solar rooftop deals across the country. India being the home for the world’s largest clean energy programme, aims to have a clean energy capacity of 175GW by 2022 which includes 100GW from solar projects. 

Recently, Symbiotics and responsAbility Investments A.G. had invested in Fourth Partner which has a 400MW operational portfolio and solar parks construction in UP, Maharashtra and Tamil Nadu. TPG Capital has also invested in Fourth Partner Energy.

The government is trying to promote solar rooftop and, PM Narendra Modi has also emphasized at least one ‘solar city’ in each state whose electricity needs are entirely met through rooftop solar powers. Globally, India has become one of the top renewable energy producers and plans to achieve clean energy capacity of 500GW by 2030.