Fourth Partner Energy, a Bangalore based solar solution, has now secured $15 million in its third funding round from the ResponsAbility Investments AG.
“This facility will be utilised for construction of new assets across the startup’s distributed solar and open access portfolios,” the startup said in a statement.
Pradhyum Reddy, who led the transaction from Fourth Partner Energy, said, “In our 10th year of operations, we are looking to add capacity of close to 350 MW across both distributed solar and open access portfolios. We are building solar parks in Maharashtra, Tamil Nadu, and Uttar Pradesh.”
“This third line of credit from responsAbility reflects its confidence in our industry expertise. It is also a positive indicator of the faith the investment and lender communities have on the country’s solar growth potential. We will be using these funds towards constructing new assets for our marquee customers,” he added.