Fourth Partner Energy (4PEL) a Hyderabad-based company developing distributed solar power, has raised around US$2 million in financing, enabling the firm to offer more financing options to its clients.
Infuse Ventures, a sustainability and clean technology fund, led the investment. Meanwhile 4PEL’s exisiting investors, the Chennai Angels (TCA) also made a commitment in the financing.
A commitment was also received under the Seed Capital Assistance Facility (SCAF), which was implemented through the United Nations Environment Programme and the Asian Development Bank.
4PEL was founded in 2010 and has built a portfolio of 350 decentralized solar power installations in India with capacities ranging from 1-500kW.