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

15 Sep 2025

Cabinet Approves Key Highway and Rail Projects in Bihar Region

The Union Cabinet on Wednesday approved the four-laning of the 84.2-km Mokama-Munger section of the Buxar-Bhagalpur high-speed corridor, a key industrial region in poll-bound Bihar. The Cabinet also sanctioned the doubling of the 177-km Bhagalpur-Dumka-Rampurhat railway line, which passes through Bihar, Jharkhand, and West Bengal, at a cost of Rs 31.7 billion.The Rs 44.5 billion highway project will be constructed under the hybrid annuity model, a variant of public-private partnership. The Mokama-Munger stretch was the only remaining two-lane section of the 363-km Buxar-Bhagalpur corridor. Fou..

NGT Issues Notice on Bengaluru Twin Tunnel Project

The National Green Tribunal (NGT) on Wednesday issued notices in response to a petition filed by Bengaluru Praja Vedike and others, challenging the Bengaluru twin tunnel road project. Petitioners claim the project was “hastily announced” and bypassed mandatory environmental impact assessment procedures.Notices have been served to the Karnataka Government, Greater Bengaluru Authority, State Environment Impact Assessment Authority (SEIAA), Bengaluru Smart Infrastructure Ltd (B-SMILE), the Union Ministry of Environment, Forest and Climate Change, and project consultants.The 16.74-km twin-tube..

India’s Residential Sales to Dip Slightly in FY26

Residential sales in India’s seven major cities are projected to decline by up to 3 per cent year-on-year in FY26 to 620–640 million square feet (msf), amid a moderation in sales velocity, according to ratings agency Icra.In FY25, sales stood at 643 msf, down 8 per cent YoY, following a sharp contraction in new launches and moderated demand in the affordable and mid-income segments. This slowdown came after the sector posted a robust compound annual growth rate of 26 per cent in area sales between FY22 and FY24.Icra noted: “Having seen a strong upcycle, the sector entered an equilibrium ..