Fourth Partner Energy Takes Over 8.9 MW Solar Portfolio from Statkraft India

• 4th Partner Energy obtained 8.9 MW of solar portfolio from Statkraft India.
• Statkraft has determined to leave the dispersed solar company due to some strategy adjustments.

Fourth Partner Energy has actually gotten 8.9 MW of solar portfolio from Statkraft India.

India's distributed solar power company concentrating on building and also financing solar tasks, Fourth Partner Energy has actually introduced obtaining 8.9 MW of solar energy portfolio of Statkraft India, an Indian branch of a European generator of renewable resource.

This notes the very first acquisition of Forth Partner in this financial duration. This follows getting an investment worth Rs 250 crore from UK-owned development money institution CDC, for expanding its sustainable solutions system throughout India as well as South Asia.

Mentioning the partnership, Head-- Asset Acquisition, 4th Partner Energy, Mr. Aditya Gupta specified, "Acquiring top quality assets backed by strong off-takers is a key emphasis area for the company as we seal our management position and this portfolio of Statkraft is a natural fit."

"Our team believe the dispersed solar market is ripe for combination, with assets changing hands at a fast rate, especially in the age of the pandemic," he included.

Prior to that in March, the solar option company had introduced a collaboration with Indonesia's energy major, Indika Energy. The joint venture (JV) firm Empat Mitra Indika Tenaga Surya (EMITS) is aimed at accelerating Indonesia's renewable resource transition.

As per the business's cases, it is India's leading solar options supplier with a mounted ability of over 500 MW in 24 States. It has actually additionally forayed into offering Lithium-ion based Storage services, along with the establishing of solar-powered EV charging hubs.

The firm has finished an 8.5 MWp ground-mounted solar installation at Kalburgi, Karnataka, a 100 MWp solar park in Uttar Pradesh, 1 MWp solar carport at Aurangabad, Maharashtra, and also 1 MWp rooftop solar installment at Warangal, Andhra Pradesh.

"Due to recent modifications in our solar strategy for India, Statkraft has determined to exit the dispersed solar power business to concentrate on establishing large-scale tasks. Statkraft will continue to look for even more financial investment chances in the clean energy room to make a favorable payment to India's power industry," claimed Mr. Rahul Varshney, Country Manager, Statkraft India.