Fourth Partner Energy (FPEL) has partnered with Gujarat Alkalies and Chemicals Limited (GACL) to develop a captive wind-solar hybrid renewable energy project in Gujarat, with a reported capacity of 45 MW. The project is expected to supply more than 99 million units of renewable electricity annually to GACL, supporting the chemical manufacturer’s decarbonisation efforts and transition towards cleaner energy.
The project will comprise 19.8 MW of wind power capacity and approximately 25 MWp of solar capacity, equivalent to 19.25 MW on an AC basis. It will be developed at FPEL’s Mota Agariya site through FPEL Bhanu Private Limited, a special purpose vehicle (SPV) and subsidiary of Fourth Partner Energy.
Under the proposed ownership structure, GACL will acquire a 26% stake in FPEL Bhanu, while Fourth Partner Energy will retain the remaining 74%. Both companies will invest in the SPV in the same 26:74 equity ratio to establish the captive renewable energy project.
The companies have executed a Share Purchase Agreement, Shareholders’ Agreement, Power Consumption Agreements and other related agreements to facilitate the project’s development. The entire electricity generated by the facility will be consumed by GACL at its Gujarat operations.
The partnership marks Fourth Partner Energy’s largest contract in Gujarat to date. According to PT Devaraj, Head – Business Development (India), and Kushal Mamgain, Head – Business Development (West Zone), at FPEL, the collaboration reflects the growing adoption of wind-solar hybrid solutions among industrial companies seeking to meet their decarbonisation objectives.
They also highlighted the potential role of battery energy storage systems (BESS) alongside hybrid renewable energy projects in supporting India’s corporate renewable energy strategy.
For GACL, the project is expected to strengthen its renewable energy procurement portfolio and increase the use of clean electricity in its industrial operations. Combining wind and solar generation can also help diversify renewable power supply by drawing on two complementary energy sources.
The development reflects the broader trend of energy-intensive industries adopting captive renewable energy projects to support sustainability goals while meeting their electricity requirements. As industrial consumers seek to reduce dependence on conventional power sources, wind-solar hybrid projects are emerging as an important component of corporate clean energy procurement strategies.
