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. This project will combine solar, wind, and battery storage to provide more predictable clean power to corporate consumers.
Project Overview
The project comprises:
- 300 megawatts-peak (MWp) of solar capacity
- 50 MW of wind power
- A Battery Energy Storage System (BESS) with a capacity of 750 megawatt-hours (MWh)
FPEL expects the project to generate more than 630 million units of clean electricity annually for corporate customers in the state. The company has already received an initial disbursement of nearly ₹375 crore against the total financing sanction.
Context and Developments
As India's commercial and industrial power consumers seek more reliable renewable electricity supplies, developers are increasingly looking to combine different generation sources with battery storage. Solar and wind output can vary with weather conditions and time of day, while batteries can store surplus electricity for use when generation falls, helping to smooth supply.
FPEL has secured commitments for more than half of the project's capacity, with data centres around Mumbai showing strong interest in hybrid renewable energy solutions. Pradhyum Reddy, FPEL's head of corporate finance and renewable capital, stated:
