Fourth Partner Energy set to raise $74 million fresh capital from Dutch bank FMO

Fourth Partner Energy (FPE), a Hyderabad-based solar energy company, is likely to secure new capital to expand its portfolio of power-generating assets. The renewable energy company will receive $74 million in debt financing from the Dutch development bank FMO to finance the construction of a 602 MW portfolio of distributed generation assets. These assets include approximately 419 MW of on-site solar plants and 183 MW of ground-mounted solar and wind-solar hybrid power plants located off site. The proposed debt facility will take the form of a rupee-denominated senior loan and will be for a period of up to 16 years.