Solar energy company Fourth Partner Energy has secured $125 million from The Rise Fund and Norfund.
Vivek Subramanian, Co-founder and Executive Director at Fourth Partner Energy, commented, “Norfund is an established, long term, institutional investor with a strong global clean energy portfolio, committed to driving impact. We are keen on leveraging this round of funding and their expertise to further cement our leadership position.”
Anders Blom, Vice President at Norfund, added, “Across Asia, Africa and Central America, Norfund has invested in and with companies like Globeleq, Scatec, Berkeley Energy Commercial and Industrial Solutions, d.Light and Yoma Micropower – which prioritise profitability while simultaneously addressing climate change, poverty alleviation and employment generation. Fourth Partner Energy is enabling decarbonisation of the C&I sector in one of the most pivotal global markets.”
“Since our initial investment, Fourth Partner has built a world-class team that consistently delivers strong fundamentals while focusing on high quality customers and carbon aversion. We are excited to be investing additional capital into this platform and continuing to build an industry leading distributed solar energy business in India,” continued Ankur Thadani, Business Unit Partner – The Rise Fund.
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