The Asian Development Bank Invests $100 Million in Fourth Partner Energy to Support Decarbonization of India’s Commercial and Industrial Sector
The Asian Development Bank (ADB) has signed a $100 million equity investment with leading independent power producer Fourth Partner Energy Private Limited to advance the decarbonization of India’s commercial and industrial sector through utility-scale solar, solar-wind hybrid and rooftop solar power projects and to provide cost-effective clean energy directly to users.
The financing includes $70 million from ADB’s ordinary capital resources and $30 million from Leading Asia’s Private Infrastructure Fund 2 (LEAP 2), administered by ADB. Deutsche Investitions- und Entwicklungsgesellschaft (DEG) and the International Finance Corporation (IFC) are joint investors.
