AMPIN Energy Transitions has secured a €25 million investment from OeEB, the development bank of Austria, providing long-term financing equivalent to approximately ₹220 crore. The investment is earmarked to bolster AMPIN’s renewable energy portfolio expansion and facilitate the establishment of a local 1GW solar cell and module production facility in Odisha, India.
According to AMPIN, the investments align with governmental objectives to escalate renewable energy capacities and curtail CO2 emissions. Additionally, they aim to bolster domestic manufacturing capabilities, thereby strengthening control over critical supply chain components pivotal for transitioning efforts.
As reported by businessline, with a current renewable energy portfolio spanning three GWp across twenty-one Indian states, AMPIN aspires to reach a ten GWp portfolio by 2030. Pinaki Bhattacharyya, MD and CEO of AMPIN Energy Transition, expressed commitment towards propelling India’s energy transition, citing the collaboration with OeEB as a significant stride towards achieving the vision of energy independence. Bhattacharyya extended gratitude towards OeEB for their trust and support in advancing AMPIN’s mission.
Sabine Gaber, member of OeEB’s executive board, emphasized the importance of backing India’s transition to renewable energy as a vital prerequisite for the country’s sustained economic progress and as a crucial element in the global fight against climate change. Gaber highlighted green finance and comprehensive climate action as foundational elements of OeEB’s new strategy.
