Renewable energy solutions company Fourth Partner Energy (FPEL) has raised ₹7.5 billion (~$79.27 million) from Tata Capital – Cleantech Finance (TCCL) to develop its ongoing solar-plus-wind project with an integrated battery energy storage system in Maharashtra.

The project comprises 300 MW of solar capacity, 50 MW of wind capacity and 750 MWh of battery energy storage. It is expected to generate more than 630 million units of clean power annually for the company’s corporate consumers in Maharashtra.

The project is FPEL’s second large-scale BESS offering, after the 500 MWh project the company is executing in Karnataka along with its interstate transmission system project.

FPEL has already secured commitments for over half of the project’s capacity, as data centers around Mumbai show keen interest in leveraging power from hybrid solutions.

Out of the total approved amount, Fourth Partner Energy has secured nearly ₹3.75 billion (~$39.64 million), according to Pradhyum Reddy, Head of Corporate Finance and Renewable Capital at Fourth Partner Energy.

As of September 2026, FPEL’s installed solar and wind portfolio stood at 2 GW, with an additional 3 GW of projects under development across the country. The company has set a portfolio target of 9 GW by 2031.

In Maharashtra, the company has more than 250 MW of operational solar assets across Katol, Bodwad and Dhule.

In 2024, FPEL secured an investment of $275 million from global impact investors IFC, the Asian Development Bank, and DEG. The World Bank’s IFC invested $125 million, ADB contributed $100 million, and Germany’s DEG invested $50 million to complete the fundraising round.

India’s cumulative installed battery storage capacity reached 9.3 GWh as of June 2026. Standalone battery storage accounted for 83% of cumulative installed capacity, followed by solar-plus-wind projects with storage offering round-the-clock capabilities at 9%, and solar-plus-storage projects at 8%.