Tata Capital Extends $79 Million Debt to Fourth Partner Energy for 300 MWp Solar Hybrid Project

Fourth Partner Energy Ltd. (FPEL) has obtained USD 79 million in debt financing from Tata Capital Cleantech Finance (TCCL) for a hybrid renewable energy project in Maharashtra, according to a PTI report dated October 23.

The company combines solar generation, wind turbines and a large battery system at the site, and the loan arrives amid a broader shift by Indian developers toward pairing storage with renewable generation to serve business customers.

Capacity Split and Annual Generation

The facility will consist of 300 megawatts-peak (MWp) of solar capacity, 50 MW of wind and a Battery Energy Storage System (BESS) rated at 750 megawatt-hours (MWh). In a statement issued on Friday, FPEL said the site is expected to produce over 630 million units of clean electricity each year for corporate buyers in the state. Pradhyum Reddy, who leads corporate finance and renewable capital at FPEL, said an initial disbursement of close to USD 39.5 million has already been drawn against the full USD 79 million sanction.

Corporate Buyers Drive the Model

India's commercial and industrial electricity users are looking for steadier renewable supplies, and developers are responding by mixing generation technologies with batteries. Because solar and wind output rises and falls with weather and time of day, storage can hold surplus power and release it when production dips, evening out deliveries.

FPEL reports that commitments have already been secured for more than half of the project's capacity. Data centres near Mumbai have expressed particular interest in hybrid renewable arrangements as they work to raise the proportion of clean power they consume. "Integrating battery storage with hybrid renewables is an ideal solution for corporates seeking to maximise their renewable energy consumption on a 24x7 basis," Reddy said.

A Repeat Move in Storage Finance

According to Reddy, this is the company's second large-scale battery storage financing. The first relates to a 500 MWh storage project being built alongside FPEL's Inter-State Transmission System (ISTS) project in Karnataka.

Established Operations Across Maharashtra

The new development builds on an existing base: FPEL runs more than 250 MW of solar assets in Maharashtra, with projects located at Katol, Bodwad and Dhule. Its roster of corporate clients features Unilever, UltraTech, Varun Beverages, United Breweries, Ajanta Pharma and Cognizant, among others, the company said. With the hybrid project, FPEL widens its footprint in the state and adds storage capability to its generation portfolio.

That combination could enable the company to provide corporate consumers a supply profile that is more consistent than what standalone solar or wind installations can deliver.

Scale Today and the Road to 9 GW

As of September 2026, FPEL's installed solar and wind portfolio stood at 2 gigawatts, with a further 3 GW of projects in development across India. The company aims to reach a 9 GW portfolio by 2031, and it plans to get there by broadening its corporate customer base and speeding up project execution.

What the Lending Says About the Market

The deal underlines how specialised lenders are taking on a larger role in bankrolling renewable projects that pair generation with storage. Whether such hybrid assets can genuinely supply round-the-clock renewable power, however, will hinge on their operating design, how long the batteries can discharge, the generation profiles at the site and the commercial terms struck with customers. FPEL has not revealed the tenure of the financing, its interest rate, or the repayment schedule.