Original disclosure @ IFC website
Updated in EWS Feb 20, 2023
Disclosed by Bank Nov 26, 2022
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According to IFC, the proposed project involves a debt investment in restricted group of companies (“RG”) owned by Fourth Partner Energy Private Limited (“FPE” or the “Sponsor”), for financing 602 MWp portfolio of distributed generation assets, comprising (i) 419 MWp of Onsite solar (“RTS”) plants and (ii) 183 MWp (considering 37.8 MW for wind), offsite, ground mounted solar and wind-solar hybrid power plants under the Open Access (“OA”) model, supplying power to Commercial and Industrial (C&I) clients across India through long term PPAs. IFC is the mandated lead arranger for the entire debt portion.
The total project cost is estimated at c. US$ 343 million. The total debt financing includes (a) IFC’s own account investment of c. US$ 55 million in INR, (b) c. US$ 148 million to be mobilized by IFC through parallel lenders, and (c) blended finance of c.US$ 25 million.
The major current shareholders in FPE are Texas Pacific Group and Norfund.
The Project Sponsor is Fourth Partner Energy Private Limited; the company was founded in 2010 and is one of the largest renewable energy (“RE”) developers in India focused on C&I segment with c.1018 MWp of capacity (589 MWp operational). In addition, it also provides hybrid energy, storage solutions and EV charging solutions to C&I companies.
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
|-||-||-||-||Fourth Partner Energy Private Limited||Client||-|
Fourth Partner Energy Private Limited
Jignasa Jani Visaria
Head, Renewable Capital
Fourth Partner House, 11th floor, Kura Tower Metro Pillar #C1335, Sardar Patel, Begumpet, Hyderabad
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