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.

Real Estate

07 Jul 2026

Pecan Realty Completes Rs 1.5 Billion Transactions

Pecan Realty has recently completed four institutional transactions worth over Rs 1.5 billion over the past two years, strengthening its position as an execution-led real estate platform. The deals include resolution-led acquisitions, structured finance transactions and capital partnerships across its development portfolio.The transactions covered acquisitions through the National Company Law Tribunal process and helped provide repayment or exits to both private and public sector lenders. The company said the deals demonstrate its ability to resolve complex project situations, work with instit..

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..