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.”