AMPIN Achieves Financial Closure For 200MWp Hybrid Project

AMPIN Achieves Financial Closure For Rajasthan 200MWp Hybrid Project

Renewable energy company AMPIN Energy Transition has announced financial closure for its 200MWp Solar-Wind Hybrid project situated in the state of Rajasthan. The green loan financing for the project has been secured from Standard Chartered. The total investment for this project is valued at Rs 944 crores (~USD113 Million). Upon completion, the solar-wind hybrid plant is expected to generate about 435Million Units of renewable energy annually, providing power to approximately 74,486 households.

Sharing the news, Pinaki Bhattacharyya, MD & CEO, AMPIN Energy Transition, said, “We’re pleased to announce the financial closure of our 200 MWp solar-wind hybrid project in Rajasthan, secured with a green loan of INR 742 crores (~USD 89 million). This milestone reinforces our dedication to advancing India’s clean energy goals and expanding AMPIN’s renewable energy portfolio. It follows our submission of a Shapath Patra to the government, reaffirming our commitment to these goals. This collaboration with Standard Chartered Bank supports our vision of driving the renewable energy transition and transforming the energy landscape in India.”

Prasad Hegde, Regional Head, Infrastructure & Development Finance Group, South Asia, Standard Chartered,said, “We are delighted to partner with a leading renewable energy player like AMPIN Energy Transition and support them on their first green loan financing and ensure timely financial closure of their 200MWp greenfield renewable energy project in the state of Rajasthan. Standard Chartered is committed to expanding the scale and reach of sustainable finance in support of such projects, with plans to mobilise USD300 billion in sustainable finance by 2030. It aims to achieve net zero in its financed emissions by 2050, and in its own operations by 2025.”

The electricity generated from this plant will be supplied to SECI under a Power Purchase Agreement (PPA) for 25 years from the start of operations. AMPIN Energy Transition said that it is now a key player in harnessing Rajasthan’s renewable potential and is developing utility scale projects in the state. AMPIN currently operates a 410 MWp solar portfolio in the state, distinguished by its large scale and diverse customer base, supplying power to both utility customers and C&I customers. With the addition of this project, AMPIN Energy Transition’s cumulative solar and wind energy portfolio in Rajasthan will scale upto 1GWp.