The bond proceeds will be allocated by Fourth Partner Energy to build and operate a large number of turnkey small and medium-scale solar systems, mostly installed on the roofs of Indian enterprises.
Leading Indian solar developer
Created in 2010, Fourth Partner Energy (4PEL) provides affordable, clean and sustainable energy solutions to commercial and industrial (C&I) clients through the construction of small and medium scale solar systems. The company manages approximately 400 MW across its distributed and open-access portfolios for over 150 clients.
4PEL has made it its mission to support its clients to reduce their energy costs, become power-independent and contribute to their sustainability goals. Founded by three partners, the company aims to consider all other stakeholders (whether clients, suppliers, financiers or employees), as their “Fourth” partner. The company generates wider impact by fostering Indian economy decarbonization by supporting the transition from heavy centralised and fossil fuel dependent power production to clean, sustainable and distributed power generation.
India is one of the fastest growing energy and solar markets in the world and currently ranks third in EY Country Renewable Energy Attractiveness Index 2019 and topping the solar category. It is expected that the central government will remain committed to its renewable energy objectives and especially after COVID-19 will do everything to support and re-accelerate the deployment of renewable energy and thus solar capacity.
“Rooftop solar for industrial and commercial use is a segment that Triodos has invested in via impact funds and its banking activities in Western European markets for many years now. We are pleased to add this important category to our portfolio of utility scale renewable energy projects as part of Triodos Groenfonds’ emerging markets allocation. Distributed energy is expected to play an important role in the energy transition and Triodos is determined to expand and work with Fourth Partner Energy, ASN and Symbiotics as trusted partners to promote renewable energy, combining impact and solid returns.” says Gerrit-Jan Brunink, Senior Investment Manager Energy & Climate at Triodos Investment Management.
Read the press release by Symbiotics.
Visit the fund page on our website for more information about Triodos Groenfonds.