Fourth Partner Energy Pvt Ltd: Scaling Up to 55 MW Aggregated Solar PV Projects
Fourth Partner Energy Pvt Ltd (4PEL) is a leading Renewable Energy Services Company (RESCO) operating in the Distributed Solar space in India for the past six years. Ranked the fourth largest EPC player in the rooftop solar space in India, 4PEL primarily targets corporate and institutional clients and has installed more than 520 rooftop solar projects aggregating ~16MW across 21 states in India. The company has been profitable since inception and has grown its revenues 5x in the last 2 years. Today, 4PEL has a pan-India presence with a team of 100 people and 7 offices servicing its 60+ corporate clients. It has established sound lender and supplier relationships.
Having so far followed an asset light model with back-to-back asset financing arrangements, the company now plans to raise money to set up and own solar assets aggregating ~55 MW across India over the next two years. A number of these projects will also be in semi urban and rural areas and in social institutions such as schools, colleges and hospitals.
What problem are you trying to solve? Who has this problem?
Distributed Solar in India is in an explosive growth phase. The Government of India has set an ambitious plan to increase distributed solar from current level of 1GW to 40 GW by 2022 at a CAGR of 97% p.a. With amortized cost of solar power cheaper than the cost of industrial and commercial power in more than 17 states in India, this growth is being driven by commercial viability and not incentives/subsidies.
With 500+ installations across India, Fourth Partner Energy (4PEL) is a leader in rooftop solar space in India. 4PEL is the fourth largest EPC player in rooftop solar in India. Its core value proposition is to reduce its corporate clients’ cost of power by providing them rooftop solar power at lower cost using a mix of engineering and financing capabilities. With its relentless focus on cost control, 4PEL today offer one of the lowest costs in this industry (
Annual reduction of 45,000 tons Carbon Dioxide emissions
Annual reduction of 155 tonnes Sulfur Dioxide and 70 tonnes of Nitrogen Oxide
Several of the installations will be in rural and backward areas and will contribute to providing electricity access there
Srinavasa Reddy, Head - Operations, R&D, Product Development
Gautam Handa, Head - Corporate Development
Brajesh Kumar Sinha, Head - Business Development
Saif Dhorajiwala, Co-founder
Vivek Subramanian, Co-founder
Vikas Saluguti, Co-founder
Amber Maheswari, Director (Infuse Ventures)
Narayanan R, Director (The Chennai Angels)
MS Ramachandran, Independent Director
Asian Development Bank
The Chennai Angels