responsAbility Plans To Invest USD 35mn In AMPIN Energy

News Brief May 14 - BrightNight, Neoen, Energy Vault and ACEN

responsAbility plans to invest up to USD 35 million in AMPIN Energy Transition Private Limited (AMPIN) on behalf of its investors. This is part of its broader USD 500 million climate investment strategy aimed at actively reducing CO2 emissions in Asia.  

New Delhi-based AMPIN is an Indian renewable energy transition company with a balanced portfolio of 3GWp, catering to both C&I and utility customers. It has developed multiple projects across 21 states in the country and is backed by strong marquee investors from across the globe.

Supporting India’s Renewable Energy Growth

The fund plans to enable AMPIN to undertake a range of projects under its various subsidiaries, primarily in commercial and industrial (C&I) solar across a wide spectrum of sectors in India. This includes manufacturing, auto & auto ancillary, pharma, healthcare, hospitals, Fast-Moving Consumer Goods (FMCG), and data centers. The company has plans to increase its operating capacity to 10 GWpby 2030 and contribute to India’s renewable energy goal of 500 gigawatts (GW) of renewable energy installed capacity. This effort, aligned with the UN’s Net Zero targets, underscores the commitment to a more sustainable and eco-friendly future.

Founder’s Vision for India’s Renewable Energy Growth, Pinaki Bhattacharyya, Managing Director (MD) and Chief Executive Officer (CEO), AMPIN Energy Transition, said: “We are happy to collaborate with responsAbility as this investment will fuel our mission to become the leaders in driving the renewable energy transition for commercial and industrial customers. With this infusion of capital, we are poised to accelerate our efforts in expanding clean energy access, driving economic development, reducing carbon emissions, and navigating the country towards a sustainable and self-sufficient energy future.”

responsAbility’s commitment to impact investing partnerships in India & Southeast Asia, Sameer Tirkar, Head of Climate Infrastructure Investments, APAC at responsAbility, said, “Our investment in AMPIN, a leader in distributed generation solar projects, emphasizes our commitment to renewable energy in India, particularly the C&I solar market. Drawing from our past experiences in the renewable energy sector, we recognize the value of partnerships in advancing sustainable investing. Through our partnership with AMPIN, we aim to contribute to a more resilient energy infrastructure in India.”

Stefan Issler, Head of Climate Infrastructure Investments at responsAbility, said: “We’re delighted to partner with AMPIN, signaling our joint commitment to sustainability and a cleaner future. With AMPIN’s established network and experienced leadership in India’s renewable energy sector, we are poised for an impactful alliance. Together, we will expand renewable projects, ensuring affordable energy access, driving economic growth in India, and reducing CO2 emissions. It is an exciting venture toward a more sustainable tomorrow!”