SHV, NIIF look to buy stake in Fourth Partner Energy
Netherlands’ SHV Energy and India’s quasi-sovereign wealth fund National Investment and Infrastructure Fund (NIIF) are separately looking to buy a stake in Hyderabad-based Fourth Partner Energy (4PEL) for about $150 million, two people aware of the development said.
Fourth Partner Energy focuses on the commercial and industrial (C&I) segment and has an operational portfolio of 400MW. It is building solar parks in Uttar Pradesh, Maharashtra and Tamil Nadu. Mint reported on 29 September 2020 about the company appointing Investec to raise about $150 million through a stake sale.
“Fourth Partner Energy is working towards aggressive growth and expansion targets in coming months. Fund-raising is an ongoing process. However, we will not be able to comment further on any particular development,” a company spokesperson said.
