ADB funds Rs 1.2 billion loan for Fourth Partner Energy

29 Aug 2023 CW Team

Fourth Partner Energy has sealed an agreement with the Asian Development Bank (ADB) to secure a Rs 1.2 billion long-term loan for the construction and operation of a 25 MW solar open access project in Tamil Nadu's Tirunelveli district. The project will supply clean and economical solar energy to Fourth Partner Energy's commercial and industrial (C&I) clients, with an estimated annual electricity generation of 50.7 GWh.

By averting approximately 41,700 tonnes of carbon dioxide emissions annually, the project aids in mitigating the environmental impact that conventional fossil fuel power initiatives would have caused.

Suzanne Gaboury, ADB's Director General of the Private Sector Operations Department, emphasised the significance of open access energy procurement in achieving net-zero emissions goals. ADB's support to such initiatives helps advance renewable energy adoption across the region, contributing to sectoral decarbonisation.

ADB has been a proactive advocate for renewable energy growth in India. It started by funding early wind projects under the independent power producer model and has continued its involvement in solar independent power producer financing through alignment with national and state-level policies.

In line with its commitment to combat climate change, ADB introduced a financing program for the Asia Pacific region earlier this year.

Vivek Subramanian, Co-Founder and Executive Director of Fourth Partner Energy, expressed excitement about the partnership with ADB, supporting their ambitious renewable energy target of 3.5 GW by 2025. The company is also progressing with solar and wind parks in Ottapidaram, Tuticorin, and Nandikundu in Tamil Nadu.

Recent investments, including one from Norfund and another from the International Finance Corporation, reflect Fourth Partner Energy's commitment to expand its renewable project footprint and contribute to India's clean energy goals.

Infrastructure Transport

01 Jun 2026

MMRDA advances 250 m on Orange Gate–Marine Drive tunnel

The Mumbai Metropolitan Region Development Authority (MMRDA) has completed 250 m of underground tunnelling for the Orange Gate–Marine Drive Urban Road Tunnel using India’s largest slurry shield tunnel boring machine (TBM) deployed for an urban road project.The project involves twin tunnels extending over 7 km beneath critical transport corridors, including Central Railway, Western Railway and Metro Line 3. The work requires high-precision engineering to navigate densely developed urban infrastructure.Once completed, the tunnel is expected to reduce travel time between Orange Gate and Marin..

Hindustan Zinc Pays Rs 188.46 Billion in FY26

Hindustan Zinc contributed Rs 188.46 billion to the public exchequer in FY 2025-26, according to its 9th Tax Transparency Report. The contribution, equivalent to 46 per cent of the company’s revenue, included direct and indirect taxes, government royalties, dividends to the Government of India, withholding taxes and other statutory levies.The company’s five-year cumulative contribution to the exchequer stood at Rs 915.72 billion. In FY26, Hindustan Zinc reported revenue of Rs 408.44 billion, EBITDA of Rs 221.62 billion and profit after tax of Rs 138.32 billion. It also achieved its highest..

World of Concrete India 2026 Opens in Mumbai

Informa Markets in India will host the 12th edition of World of Concrete India 2026 from 3–5 June 2026 at the Bombay Exhibition Centre, Mumbai. The specialised B2B exhibition will bring together manufacturers, suppliers, contractors, developers, architects, consultants, infrastructure companies, project leaders and government stakeholders.The event is expected to feature over 350 brands and more than 18,000 trade professionals. It will cover concrete and cement, dry mortar, precast technologies, formwork, construction chemicals, industrial and commercial flooring, scaffolding, safety solutio..