AMPIN Energy Transition, a renewable energy company, has entered into a second partnership with Copenhagen Infrastructure Partners (CIP), a Danish investment firm.
The agreement will enable the development of two GWp of renewable energy projects across India, with joint equity investments exceeding $300 million.
The total renewable energy asset base resulting from the partnership is expected to reach approximately $1.5 billion.
Expanding on Previous Success
The collaboration builds on the success of the initial partnership formed in 2021.
Through its Growth Markets Fund I (CI GMF I), CIP partnered with AMPIN Energy Transition to invest $200 million in renewable energy projects in India.
The collaboration was later extended with an additional $100 million. This expanded the portfolio from 1.7 GWp to 2.4 GWp of renewable energy capacity.
As a result, the partnership generated a renewable energy asset base valued between $1.2 billion and $1.5 billion.
Targeting Diverse Energy Technologies
For the second partnership, AMPIN Energy Transition and CIP aim to develop a portfolio of two GWp. It will include a mix of solar, wind, hybrid, and storage technologies.
The partnership will primarily focus on large-scale, grid-connected renewable energy projects throughout India.
Strengthening India’s Renewable Energy Transition
The trust shown by CIP has thrilled Pinaki Bhattacharyya, Founder, Managing Director, and CEO of AMPIN Energy Transition, who commented, “We are grateful for their continued belief.” Their continued belief in our vision and growth plans is invaluable.”
He added, “This deepened partnership strengthens our ability to drive India’s renewable energy transition and contributes to the country’s energy independence and sustainable growth goals”.
CIP’s Commitment
As reported by pv-magazine-india.com, CIP entered the Indian market in 2021 through its Growth Markets Fund. It formed successful partnerships with AMPIN Energy Transition and Viviid.
Peter Sjøntoft, Partner at CIP, highlighted India’s importance as a key renewable energy market.
Sjøntoft said, “India is one of the world’s most dynamic renewable energy markets. We are excited to expand our collaboration with AMPIN Energy Transition. This will play a central role in our renewable energy portfolio in India”.
