Mumbai, Oct. 28 -- Fourth Partner Energy (FPEL) has secured financing of Rs. 7.5 bn from Tata Capital Cleantech Finance (TCCL) to develop a hybrid renewable energy project in Maharashtra. The project will combine 300 MWp of solar capacity, 50 MW of wind power and a Battery Energy Storage System (BESS) with 750 MWh of storage capacity.
The facility is expected to generate more than 630 mn units of clean electricity annually for corporate customers in the state. FPEL has received an initial disbursement of nearly Rs. 3.75 bn against the sanctioned financing, according to Pradhyum Reddy, the company's head of corporate finance and renewable capital. FPEL said it has secured commitments for more than half of the project's capacity.
The company said the project responds to demand from commercial and industrial power consumers for more reliable renewable electricity. Solar and wind generation varies with weather and time of day, while battery storage can retain surplus power and release it when generation declines, helping to smooth supply for customers with more consistent consumption requirements.
Data centres around Mumbai have shown strong interest in hybrid renewable solutions as they seek to increase clean electricity in their consumption mix. FPEL described the financing as its second large-scale battery storage offering, following a 500 MWh system being developed alongside its Inter-State Transmission System project in Karnataka.
FPEL operates more than 250 MW of solar assets in Maharashtra, including facilities at Katol, Bodwad and Dhule. Its corporate customers include Unilever, UltraTech, Varun Beverages, United Breweries, Ajanta Pharma and Cognizant. As of September 2026, the company had a 2 GW installed solar and wind portfolio, with another 3 GW under development across India, and is targeting 9 GW by 2031. It did not disclose the financing tenure, interest rate or repayment terms.
Published by HT Digital Content Services with permission from Construction World.