FP Energy PF

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Fourth Partner Energy (“FPE” or the “Client”) design, install and supply renewable energy to commercial and industrial (C&I) clients across India. This project will finance construction of 196 MWp of distributed renewable energy (158 MWp solar and 38 MW wind) and refinance another 406 MWp of existing assets (368 MWp Rooftop Solar (RTS) and 38 MWp ground mounted Open Access (OA) solar plants). Rooftop installations are designed according to client site specifications and energy consumption patterns. Open access plants use grid infrastructure to transmit solar power generated at a different location to industries that have bulk energy requirements. The total project cost is estimated at c. US$ 343 million. The total debt financing includes (a) IFC’s own account investment of c. US$ 55 million in INR, (b) c. US$ 148 million to be mobilized by IFC through parallel lenders, and (c) blended finance of c.US$ 25 million.Fourth Partner Energy, founded in 2010, is one of the largest renewable energies (RE) developers in India focused on the C&I segment with around 1018MWp of capacity under management - 589 MWp of operating assets and 429 MWp of planned or under-construction projects. FPE are an ISO 9001:2015, ISO 14001:2015 and ISO 45001:2018 certified company specialized in the design, development, engineering, supply chain management, commissioning and operation and maintenance (O&M) of solar PV plants for roof-top, ground mounted and floating projects. Based in Hyderabad, FPE also provides hybrid energy, storage solutions and electric vehicle (EV) charging solutions to help their C&I clients improve their financial sustainability and achieve their carbon reduction ambitions. Additional information about FPE is available from the company Internet site here: https://www.fourthpartner.co/FPE’s existing operational portfolio consists of individual solar projects that range in size from 0.019 MWp to 19.8 MWp and are located across 431 sites in 26 Indian states. 59% of the total portfolio is operational, with another 9% in advanced stages of completion. Operational and under construction OA sites are located in four Indian states: Gujarat, Karnataka, Andhra Pradesh, and Tamil Nadu. RTS sites present minimal environmental and social (E&S) impacts and risks as they are relatively small in footprint and installed on existing commercial and industrial building rooftops. OA and hybrid wind plants range in capacity from 5.0 to 75 MWp and can require anywhere from 6 to over 100 hectares of land. OA plants include associated transmission lines for power evacuation to nearby substations. The project financed OA plants are located on what were previously rainfed agricultural lands with nearby road access. These lands were purchased or leased from private owners on a Willing Buyer – Willing Seller (WB-WS) basis.