AMPIN Energy, CIP Partners To Create $3 Bn RE Asset Base In India

AMPIN Energy, CIP Partners To Create $3 Bn RE Asset Base

AMPIN Energy Transition, and Copenhagen Infrastructure (CIP) have announced a second partnership to develop another ~2 GWp of renewable energy projects across India. This new investment in excess of USD 300 million would help create a renewable energy asset base of approx. USD 1.5 billion.

This partnership follows the existing partnership that AMPIN and CIP entered in 2021 to enable joint equity investments of initially USD ~200 million in renewable energy projects in India. The partnership has since been extended with further investments of USD ~100 million to allow for an expansion of the portfolio from the initial target of 1.7 GWp to ~ 2.4GWp of projects thus creating a renewable energy asset base of USD 1.2-1.5 billion

For this second partnership, New Delhi-based AMPIN Energy Transition and CIP, a fund manager whose greenfield renewable energy investments are initially targeting a portfolio of ~2 GWp, expected to comprise of solar, wind, hybrid and storage technologies. The partnership will focus on large-scale and central grid connected renewable energy projects in India.

Pinaki Bhattacharyya, Founder, (MD) and CEO of AMPIN Energy Transition commented on the extended partnership: “We’re happy by the continued confidence shown by CIP in our vision and growth plans. This deepened partnership not only strengthens our ability to expand our impact and accelerating India’s renewable energy transition but it also reinforces our shared commitment to driving innovation and sustainable value creation. Together, we’re building an asset base that will contribute meaningfully to India’s energy independence and sustainable growth goals.”

Partner at CIP Peter Sjøntoft said: “India is one of the world’s most important and dynamic renewable energy markets and a key focus for our Growth Markets Funds. We are very happy to be expanding our collaboration with our trusted partners at AMPIN Energy Transition as an important part of our investment portfolio in renewable energy in India. We look forward to realizing the portfolio of new projects which will contribute to local growth and job creation while delivering attractive returns for our investors.”

Focused mostly in the C&I segment or with strong off-takers for green energy it produces, AMPIN has built a strong brand in India.