Fourth Partner Energy (FPEL), backed by TPG, has secured Rs 780 crore in refinancing from NIIF Infrastructure Finance (NIIF-IFL) to strengthen its rooftop solar portfolio.

The refinancing covers around 370 MW of solar assets across 24 Indian states, supporting major clients like Hindustan Unilever, D-Mart, and TCS. This transaction, one of the largest in India’s rooftop solar sector, will provide long-term capital stability to FPEL, enabling portfolio optimisation, improved financial efficiency, and further expansion into the commercial and industrial (C&I) sector.

The company previously raised USD 275 million from IFC, ADB, and DEG to support its renewable energy business. This move highlights increasing institutional confidence in rooftop solar investments, positioning FPEL for significant growth in India’s expanding renewable energy market.