Indian Oil’s Terra Clean in talks to buy 50% stake in Fourth Partner Energy
MINT·2025-10-15 06:58
New Delhi: Indian Oil Corp., the country’s largest crude oil refiner, plans to acquire a 50% stake in renewable energy firm Fourth Partner Energy Pvt. Ltd (FPEL) through its subsidiary Terra Clean Ltd in a deal with an estimated equity value of about $400 million, according to two people aware of the development. The deal, if it goes forward, will mark the state-run oil marketing company’s first acquisition in the green energy space. It will be a mix of primary and secondary share transactions and will prov ...