Fourth Partner Energy Ltd. has secured ₹750 crore from Tata Capital Cleantech Finance to develop a hybrid renewable energy project in Maharashtra combining 300 MWp of solar power, 50 MW of wind capacity and a 750 MWh battery energy storage system.
The project is expected to generate more than 630 million units of clean electricity annually for corporate customers in the state, Fourth Partner Energy (FPEL) said in a statement. The company has already received an initial disbursement of nearly ₹375 crore against the total sanctioned financing, according to Pradhyum Reddy, FPEL’s head of corporate finance and renewable capital.
The project brings solar generation, wind power and battery storage into a single supply system. Solar and wind output varies according to weather conditions and the time of day, while the battery can store surplus electricity for use when renewable generation falls. This arrangement is intended to provide corporate consumers with a more predictable renewable-power supply than standalone solar or wind projects.
FPEL said it has secured commitments for more than half of the project’s capacity. Data centres around Mumbai have shown strong interest in hybrid renewable-energy solutions as they seek to increase the share of clean electricity in their consumption, the company said.
“Integrating battery storage with hybrid renewables is an ideal solution for corporates seeking to maximise their renewable energy consumption on a 24×7 basis,” Reddy said.
The financing is FPEL’s second large-scale battery-storage offering. The company is also executing a 500 MWh storage project alongside its Inter-State Transmission System project in Karnataka. The Maharashtra project will expand FPEL’s existing presence in the state, where it operates more than 250 MW of solar assets at Katol, Bodwad and Dhule.
FPEL’s corporate customers include Unilever, UltraTech, Varun Beverages, United Breweries, Ajanta Pharma and Cognizant, among others. The company said its new project would add storage to its renewable-generation portfolio and support a more consistent supply profile for corporate consumers.
As of September 2026, FPEL had an installed solar and wind portfolio of 2 GW, with another 3 GW of projects under development across India. It is targeting a 9 GW portfolio by 2031, with a focus on expanding its corporate customer base and accelerating project execution.
The financing also underlines the role of specialised lenders in funding renewable projects that combine electricity generation with storage. FPEL did not disclose the tenure, interest rate or repayment terms of the financing. The extent to which the project can provide round-the-clock renewable electricity will depend on its operating design, storage duration, generation profiles and commercial terms with customers.
