Dua Associates advised and assisted Fourth Partner Energy in successfully raising $125 million in equity funding from Norwegian Investment Fund – Norfund – and its existing shareholder, The Rise Fund, TPG’s global impact investing platform . This $100 million marks Norfund’s maiden investment into India’s leading solar energy company, while The Rise Fund’s investment of $25 million, follows an earlier round in 2018.
This big funding round will give a fillip to the company’s plans of achieving 3 GW of installed solar capacity by 2025, besides expanding into energy storage and electric vehicle charging infrastructure.
Manoj Menon, Partner led the team at Dua Associates which included Sharan Balasubramanian, Principal Associate and Nirmal John, Associate who worked on the transaction on behalf of Fourth Partner Energy.
Other advisors include specialist international financial services company, Investec Capital Services India for Fourth Partner Energy and Shardul Amarchand Mangaldas & Co for TPG for this transaction, while Avendus Capital and Cyril Amarchand Mangaldas advised Norfund for the same.
This deal is significant as clean energy infrastructure is gaining traction , driven the urgency to decarbonise energy systems and emerging markets like India are now driving global renewable energy deployment. Dua Associates has been a trusted legal advisor to Fourth Partner Energy since its inception and it has been an enduring partnership, owing to the consistent exemplary work and steadfast support extended by the team.
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