Fourth Partner Energy raises Series-A Round from Marquee Investors

Fourth Partner Energy (4PEL), a company focused on Distributed Solar Power, has raised about USD 2 million. The company on Wednesday said Infuse Ventures, a sustainability and clean technology fund, led this round of investment. There was also a commitment from Fourth Partner’s existing investors – The Chennai Angels (TCA).

The company also received a commitment under the Seed Capital Assistance Facility (SCAF) implemented through the United Nations Environment Programme and the Asian Development Bank, a release said.

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Maharashtra announces Net Metering Policy for Rooftop Solar

Maharashtra recently announced the Net Metering Policy for Rooftop Solar PV Plants:

The Key Features are:

  1. “Eligible Consumer” means a consumer of electricity in the area of supply of the Distribution Licensee who uses or intends to use a Solar Photo Voltaic (“PV”) generating System having a capacity less than 1 MW, installed on a roof-top or any other mounting structure in his premises, to meet all or part of his own electricity requirement, and includes a Consumer catering to a common load such as a Housing Society
  2. The capacity of the Roof-top Solar PV System to be connected at the Eligible Consumer’s premises shall not exceed his Contract Demand (in kVA) or Sanctioned load (in kW)
  3. If the quantum of electricity exported exceeds the quantum imported during the Billing Period, the excess quantum shall be carried forward to the next Billing Period as credited Units of electricity. The unadjusted net credited Units of electricity as at the end of each financial year shall be purchased by the Distribution Licensee at its Average Cost of Power Purchase as approved by the Commission for that year, within the first month of the following year. At the beginning of each Settlement Period, the cumulative quantum of injected electricity carried forward will be re-set to zero.
  4. In case the Eligible Consumer is within the ambit of ToD tariff, the electricity consumption in any time block, i.e. peak hours, off-peak hours, etc., shall be first compensated with the quantum of electricity injected in the same time block. Any excess injection over and above the consumption in any other time block in a Billing Cycle shall be accounted as if the excess injection had occurred during off-peak hours

Link to Policy Document >>