A new report released by British International Investment (BII), the UK’s development finance institution and impact investor, shows that Indian firms adopting renewable energy are significantly increasing their output while simultaneously cutting emissions. Commissioned by the UK’s Foreign, Commonwealth and Development Office, the study examines energy consumption patterns of commercial and industrial customers using solutions provided by Fourth Partner Energy (FPEL), a BII-backed renewable energy company.
Drawing on operational data from FPEL, the analysis estimated how lower-cost renewable power has influenced electricity use among client businesses and assessed the resulting changes in productivity and emissions. Titled “Evaluating the impact of BII’s investment in C&I power in India,” the report concludes that shifting to renewable energy has generated an additional $344 million (₹29.6 billion) in value every year for FPEL’s customers—roughly 3% of their total annual output. FPEL’s open access solar installations and related solutions have also helped avoid approximately 3.23 million tonnes of CO₂ annually.
Commenting during COP30 in Brazil, Shilpa Kumar, Managing Director and Head of India at BII, noted: “This important study shows that renewable adoption delivers clear benefits for Indian businesses. As discussions continue at COP30, BII remains committed to supporting India’s progress toward economic growth and a net-zero future.”
Nithya Balakrishnan, Head of Marketing & Policy Advocacy at Fourth Partner Energy, added: “With India targeting 500GW of renewable capacity by 2030, the country is well-positioned to lead global decarbonisation efforts. FPEL is privileged to support this transition for the corporate sector.”
Prepared by global consultancies Itad and Steward Redqueen, the report also highlights BII’s central role in accelerating FPEL’s expansion. Since 2021, BII’s mezzanine financing enabled FPEL to transition from rooftop solar to large-scale open access projects, drawing additional institutional investors such as the International Finance Corporation, Asian Development Bank, and DEG.
The study further outlines how the rapid rise of India’s commercial and industrial renewable energy sector has been supported by favourable regulatory reforms. Since 2022, measures such as enabling interstate power sales and lowering transmission charges have improved project viability and strengthened investor confidence. This publication forms part of BII’s ongoing programme to evaluate the development impact of its investments, helping both BII and the FCDO better understand how these efforts drive sustainable economic and social outcomes.
BII invests in businesses across developing economies to improve lives and support climate action, with at least 30% of new commitments from 2022–2026 dedicated to climate finance. In India alone, BII plans to invest up to $1 billion in climate initiatives during this period. As a founding member of the 2X Challenge, BII contributes to advancing women’s economic empowerment, with the initiative mobilising more than $33.6 billion globally. BII currently holds net assets of £9.87 billion and supports over 1,600 businesses across 66 countries, with India representing its largest investment portfolio valued at $2.5 billion across 600+ companies.
Founded in 2010 and headquartered in Hyderabad, Fourth Partner Energy provides comprehensive clean energy solutions including rooftop and ground-mounted solar, open access solar and wind, hybrid systems, battery storage, and EV charging infrastructure. With over 3,000 completed projects and a 1.2 GW managed portfolio, FPEL is among the leading players in India’s commercial and industrial renewable energy segment.
