Fourth Partner signs 28 MW hybrid deal with Hyundai Motor Group

Fourth Partner Energy Private Limited has signed an agreement to supply 28 MW from a wind-solar hybrid project in Tamil Nadu to Hyundai Motor Group. The deal expands an existing relationship that began with rooftop solar installations and has since evolved into a broader decarbonisation programme.

The arrangement covers multiple Hyundai group entities, including Hyundai Mobis, Hyundai WIA, Hyundai Glovis India, and Hyundai Transys. The additional capacity is expected to raise Hyundai Motor’s renewable energy share to about 70% of its total consumption in India, supporting emissions reduction across its supply chain.

The partnership builds on an earlier structure established in November 2024, when Fourth Partner Energy’s special purpose vehicle (SPV), FPEL Tamil Nadu Wind Farm, entered into power purchase agreements (PPAs) with Hyundai Motor. The SPV was set up to develop a combined 118 MW facility, comprising a 75 MW solar plant and a 42.9 MW wind project in Tamil Nadu.

Hyundai Motor India Limited subsequently took an equity position in the project. In June 2025, it invested Rs 16.58 crore as a first tranche, acquiring approximately 23.6 lakh equity shares in FPEL TN Wind Farm through a private placement, resulting in a 26.13% stake in the wind energy entity.

The agreement reflects a broader trend in India’s commercial and industrial (C&I) segment, where companies are increasing direct renewable procurement. Declining battery storage costs are enabling higher renewable integration and reducing reliance on conventional grid supply for non-continuous industrial demand.

The automotive sector is expected to advance faster than many industries in shifting to green energy procurement, supported by relatively lower process heat requirements and increasing pressure to align manufacturing operations with electric mobility strategies.

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