CIP, Amp Energy to develop 1.7GWp of renewables in India

By Charlie Duffield
Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on reddit
Reddit
Share on email
Email
The portfolio will consist of both utility as well as commercial and industrial projects. Image: Amp Energy India via Twitter.

Danish investment firm Copenhagen Infrastructure Partners (CIP) has signed an agreement with Amp Energy to enable the addition of 1.7GWp of renewables projects in India.

The portfolio, consisting of both utility as well as commercial and industrial (C&I) installations, comprises around 900MWp in late-stage projects, including both solar as well as solar/wind hybrids, and an additional 800MWp of projects in earlier stages of development.

CIP, though its Copenhagen Infrastructure New Markets Fund I (CI NMF), will commit US$100 million. The agreement with Amp Energy India will enable joint investments of more than US$200 million, with the potential for expansion in the future.

This transaction is CI NMF’s first investment in the Indian renewable energy market and its largest commitment since its establishment in 2019.

Pinaki Bhattacharyya, CEO of Amp India, said: “CIP is the world’s leading renewable energy-focused infrastructure fund manager and their significant domain expertise is a strong value addition, in addition to being a capital partner.

“Both will be critical to success as we diversify our portfolio to include solar, wind and hybrid in moving towards providing dispatchable clean energy to our C&I and utility customers. This is a key milestone as we march towards our goal of creating the first truly balanced and complete renewable power producer with a 5GWp target”.

Niels Holst, partner and head of CI NMF, commented: “As one of the world’s most dynamic and competitive renewable energy markets, India is a key focus for CI NMF and we are delighted to take this first important step together with a great partner in Amp, who combine an excellent track record and shared values in developing and realising projects.”

Read Next

September 16, 2021
Renewables developer Amp Energy has secured financing for a 120MW solar installation in the Australian state of New South Wales that is expected to begin energisation in early 2022.
September 13, 2021
The Indian state of Tamil Nadu is planning to develop 4GW of additional solar projects as well as new battery energy storage systems, according to local media.
PV Tech Premium
September 10, 2021
With inaccurate irradiation data potentially impacting profitability estimates of PV projects in Africa, calls have been made for solar players to invest in more accurate measurement tools and work together to support the commercial and industrial (C&I) sector’s growth.
September 10, 2021
Independent power producer ReNew Power has commissioned a 250MW portion of a 300MW solar plant in the Indian state of Rajasthan.
September 6, 2021
India-based renewables developer Adani Green Energy has raised US$750 million through a green bond offer, securing the debt and equity needed to reach a 25GW renewables target.
September 2, 2021
Reliance Industries is close to acquiring solar module manufacturer REC Group, according to media reports in India, as part of the conglomerate’s expansion into the renewable energy sector.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
October 6, 2021
Solar Media Events
October 19, 2021
BRISTOL, UK
Solar Media Events
December 1, 2021