Sumitomo Corporation partnered with Ampin Energy Transition to create a new holding company dedicated to investing approximately ₹6,000 crore in renewable energy projects.
In the joint venture, known as Ampin C&I Power, Sumitomo will own a forty-nine percent share, with Ampin retaining the majority stake.
The collaboration will focus on generating power from renewable sources such as solar and wind energy, with a goal to supply 1 GW (gigawatt) of power to the industry in the coming years.
Sumitomo plans to establish a comprehensive green power platform in India, covering all aspects from renewable energy production to direct supply to businesses. As reported by thehindubusinessline.com, the joint venture will benefit from Ampin Energy Transition’s local expertise and Sumitomo Corporation’s extensive global network of Japanese companies.
