Fourth Partner Energy, a distributed solar company and a full service renewable energy service company (Resco), expects to close this year with a turnover of ₹250-300 crore, and take it up to over ₹1,000 crore by 2020.
The company said in a statement it will implement about 10 MW of rooftop projects for the Railways in Varanasi, Jabalpur and Gorakhpur.
Fourth Partner Energy commenced operations in 2010 with offices in Hyderabad and Pune and now has a presence in 10 cities. The company completed over 1,350 installations across 22 States, and has installed over 50 MW. It is currently sitting on an order book of over 50 MW.
Saif Dhorajiwala, founder partner and Executive Director, said in the statement: “As a full services player with complete in-house capabilities, Fourth Partner Energy is ideally positioned in this high potential market to continue its growth momentum. It has partnered with several large marquee customers.”
The company’s clientele includes Ferrero India, Vizag Smart City, Navodaya University, Schneider Electric and Symbiosis University. It has also bagged orders from Solar Energy Corporation of India, as part of a 500 MW tender, wherein various Central government establishments in Maharashtra, Karnataka, Telangana and Rajasthan will be electrified.
Fourth Partner, backed by Infuse Ventures, Chennai Angels, ADB, Oiko Credit and RBL Bank, plans to achieve 1 GW of distributed solar assets under management by 2022.