Fourth Partner Energy Secures ₹750 Crore Financing from Tata Capital for Maharashtra Hybrid Renewable Project

Fourth Partner Energy Ltd. (FPEL) has secured ₹750 crore in financing from Tata Capital Cleantech Finance (TCCL) to develop a hybrid renewable energy project in Maharashtra. The project combines solar, wind, and battery storage as developers increasingly turn to energy storage to provide more predictable clean power to corporate consumers.

The project comprises 300 megawatts-peak (MWp) of solar capacity, 50 MW of wind power, and a Battery Energy Storage System (BESS) with a capacity of 750 megawatt-hours (MWh). According to the company, the facility is expected to generate more than 630 million units of clean electricity annually for corporate customers in the state.

Pradhyum Reddy, FPEL's head of corporate finance and renewable capital, stated that the company has received an initial disbursement of nearly ₹375 crore against the total financing sanction of ₹750 crore. FPEL did not disclose the financing's tenure, interest rate, or repayment terms.

The initiative comes as India's commercial and industrial power consumers seek more reliable renewable electricity supplies. Solar and wind output varies with weather conditions and the time of day, whereas batteries can store surplus electricity for use when generation falls, helping smooth the supply profile. Data centres around Mumbai have shown strong interest in hybrid renewable energy solutions as they seek to increase the share of clean electricity in their power consumption.

FPEL reported that it has secured commitments for more than half of the project's capacity. Integrating battery storage with hybrid renewables serves corporates seeking to maximise their renewable energy consumption on a round-the-clock basis, according to Reddy. This marks the company's second large-scale battery storage offering, following a 500 MWh storage project executed alongside its Inter-State Transmission System (ISTS) project in Karnataka.

Currently, FPEL operates more than 250 MW of solar assets in Maharashtra, including projects at Katol, Bodwad, and Dhule. Its corporate customer base in the country includes Unilever, UltraTech, Varun Beverages, United Breweries, Ajanta Pharma, and Cognizant.

As of September 2026, FPEL held an installed solar and wind portfolio of 2 gigawatts, alongside another 3 GW of projects under development across India. The company targets a portfolio of 9 GW by 2031, with a strategic focus on expanding its corporate customer base and accelerating project execution.

Specialised lenders are playing an increasingly prominent role in funding renewable energy projects that combine generation with storage. However, the extent to which these projects can deliver round-the-clock power will depend on their operating design, storage duration, generation profiles, and commercial terms agreed upon with customers.

"The financing of this hybrid renewable project by Tata Capital Cleantech Finance reflects the changing demands of corporate power consumers in India. As commercial entities increasingly target reliable clean energy, the integration of solar, wind, and battery storage is becoming essential for developers. This project demonstrates how specialized debt financing is supporting large-scale infrastructure capable of addressing intermittency challenges in the renewable sector." — Dr. Shishir Gupta, Founder & CEO, StartupLanes