IFC, ADB, and DEG Secure Stake in Fourth Partner Energy Following CCI Approval

The Competition Commission of India (CCI) has approved the acquisition of a certain shareholding in Fourth Partner Energy Pvt.Ltd. by the International Finance Corporation (IFC), the Asian Development Bank (ADB), and Deutsche Investitions - und Entwicklungsgesellschaft mbH (DEG).

In its official statement, CCI said that the approval involves a combined investment of approximately USD 275 million (INR 2,296.25 crore) from these institutions. IFC, ADB, and DEG will acquire a percentage of the target’s share capital through both primary subscription and secondary purchase.

IFC, established in 1956, is part of the World Bank Group and works to foster economic growth in developing countries through private sector development, investment financing, and advisory services. ADB, founded in 1966, provides loans, technical assistance, grants, and equity investments to promote development in its 69 member countries, primarily across Asia. DEG, part of the KfW Bankengruppe, supports private sector companies in developing markets, helping them with financing and advisory services that have a positive development and climate impact.

Fourth Partner Energy, the target company, specialises in integrated renewable energy solutions. It installs, owns, and operates solar and wind power plants supplying electricity to commercial and industrial consumers. Additionally, the company provides engineering, procurement, and construction (EPC) services and operations and maintenance (O&M) services, mainly for captive clients, though it also offers limited services to third-party commercial and industrial customers. A detailed order from the Commission will be issued in due course.