New Delhi: The Asian Development Bank (ADB) has provided a $100 million loan to Fourth Partner Energy, one of India’s renewable energy solutions providers, to enable the company to provide clean and renewable energy to commercial and industrial clients in the country, a press release by the ADB stated.
The financing will help the company in its mission of providing “energy as a service” to its customers by offering end-to-end capabilities including evaluation, design, planning, procurement, construction, operation, maintenance, and financing of critical solar, wind, and battery storage infrastructure.
The investment is ADB’s first transaction in India since the launch of its $1.5 billion Leading Asia Private Infrastructure Fund 2 (LEAP 2) in December 2023. The fund is managed by ADB and targets sustainable private-sector infrastructure projects that have the potential to reduce carbon emissions, improve energy efficiency, and provide affordable access to healthcare, education, and communication services in developing countries