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Fourth Partner Energy Secures Rs 780 Crore Refinancing from NIIF Infrastructure Finance for Rooftop Solar Assets

Fourth Partner Energy (FPEL) has secured Rs780 crore in refinancing from NIIF Infrastructure Finance (NIIF IFL) for a major portion of its rooftop solar portfolio across India.

FPEL currently operates a 370 MW rooftop solar portfolio spread across 24 states, supplying clean power to several leading corporates, including HUL, D-Mart, Ultratech, Walmart, Hyundai, Colorcon, and TCS, the company announced in a statement.

Jignasa Jani Visaria, Head – Renewable Capital at Fourth Partner Energy, noted that the company’s goal was to work with a single lender for its entire rooftop portfolio.

“NIIF IFL was our first choice, given their deep understanding of infrastructure financing and prior experience with us. Their team quickly grasped the nuances of our diversified rooftop portfolio, including regulatory frameworks and business models. The refinancing structure they designed is both innovative and among the first-of-its-kind in the distributed generation sector, executed in just a few weeks,” she said.

Sourabh Shrivastava, Director – Business at NIIF IFL, highlighted the transaction’s scale and complexity, citing the diversity of project sites, off-takers, and regulatory frameworks.

“This deal reflects our solution-oriented approach and commitment to India’s energy transition. The financing was carefully structured to meet the unique needs of the distributed solar segment, which plays a vital role in driving sustainable growth,” he stated.

Beyond its rooftop solar assets, Fourth Partner Energy has commissioned over 1.2 GW of open-access renewable projects and is developing more than 800 MW of wind-solar hybrid capacity, positioning itself as a leading integrated renewable energy platform.

The company has also implemented Battery Energy Storage Systems (BESS) totaling 50 MWh, serving corporate clients requiring Round-the-Clock (RTC) power solutions. All assets are managed through FPEL’s AI-powered energy management system.

FPEL aims to expand its total installed capacity to 9 GW by 2031. Earlier this year, it raised USD 275 million in equity funding from IFC, ADB, and DEG to support its growth and sustainability initiatives.