Meta, Fourth Partner Energy Ink 88 MW Renewable Energy Pact Across 4 Indian States

New Delhi, Jun 10 (KNN) Fourth Partner Energy (FPEL) has entered into a renewable energy agreement with Meta Platforms Inc covering 88 megawatts alternating current (MWac) of solar and wind projects across four Indian states, the company announced on Wednesday. 

The partnership forms part of Meta's strategy to match its global operations with clean energy sources and reduce value chain emissions in the region.

Under the agreement, FPEL will own and operate the portfolio of projects across Tamil Nadu, Karnataka, Maharashtra, and Uttar Pradesh, while Meta will purchase 100 per cent of the environmental attributes — effectively the renewable energy certificates — associated with the projects.

Amanda Yang, Head of Clean and Renewable Energy, Meta, said, "These projects with Fourth Partner Energy represent a commitment to India's clean energy ecosystem, helping to bring new renewable energy capacity onto the grid and address Meta's value chain emissions in the region. This is consistent with our broader goal of matching our global operations with 100 per cent clean and renewable energy," PTI reported.

Why It Matters

The deal adds new renewable capacity to India's national power grid and reflects a broader corporate trend of large technology companies procuring clean energy to address both direct operational emissions and supply chain emissions — commonly referred to as Scope 2 and Scope 3 targets.

Vivek Subramanian, Co-Founder and Executive Director, Fourth Partner Energy, noted, “Corporates are increasingly keen to utilise clean energy across their Scope 2 and Scope 3 supply chains. This is where the complementary nature of solar and wind helps offer maximised renewables. We are excited to work with Meta and continue being corporate India's preferred Net Zero enablers.”

FPEL's Growing Footprint

Fourth Partner Energy currently operates 1.7 gigawatts (GW) of solar and wind assets across India, with a further 3 GW under development. 

The company has set a target portfolio of 9 GW by 2031, positioning the Meta agreement as part of a significantly larger pipeline of corporate renewable energy deals.

(KNN Bureau)