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Fourth Partner Energy Secures ₹750 Cr for Renewable Project in Maharashtra
Sentiment: NeutralHigh Priority
What Happened?
Fourth Partner Energy Ltd. has secured ₹750 crore from Tata Capital Cleantech Finance to develop a hybrid renewable energy project in Maharashtra, combining solar, wind, and battery storage. The project aims to generate over 630 million units of clean electricity annually.
Key points
- The project includes 300 MWp of solar capacity and 50 MW of wind power.
- It features a Battery Energy Storage System (BESS) with a capacity of 750 MWh.
- FPEL has received an initial disbursement of nearly ₹375 crore.
- The project aims to meet the demand for reliable renewable electricity among corporate consumers.
- FPEL operates over 250 MW of solar assets in Maharashtra, serving clients like Unilever and Cognizant.
- The company targets a portfolio of 9 GW by 2031, with 2 GW already installed.
Key insights
- The integration of battery storage may allow for more consistent energy supply compared to standalone solar or wind projects.
- Data centers around Mumbai are increasingly interested in hybrid renewable energy solutions.
- The financing reflects the growing role of specialized lenders in renewable energy projects.
Why it matters
The project could enhance the reliability of renewable energy supplies for corporate consumers in Maharashtra.
Tags
Entities
Fourth Partner Energy Ltd.· CompanyTata Capital Cleantech Finance· CompanyMaharashtra· StateUnilever· CompanyUltraTech· CompanyVarun Beverages· CompanyUnited Breweries· CompanyAjanta Pharma· CompanyCognizant· Company
Source
Business Standard
