In a bold move towards spearheading India’s energy transition, Amp Energy India has unveiled an impressive $250 million investment plan, to drive its next phase of growth in the key C&I and Utility Markets – across different geographies and technologies such as Solar, Wind, Hybrids, Battery Energy Storage Solutions and Energy Management.
Amp Energy India, boasts an extensive portfolio of over 2.7GW spanning 17 states, plans to strategically allocate the $250 million funding to drive the company’s growth and expansion.
The platform’s core mission is to offer cutting-edge renewable energy transition solutions to esteemed clients across ten diverse sectors, including pharmaceuticals, automobiles, cement, steel, heavy engineering infrastructure, FMCG, educational institutions, IT & data centers, utilities, and government bodies.
Pinaki Bhattacharyya, the Founder, Managing Director, and CEO of Amp Energy India, expresses his optimism, stating, “This significant investment propels us closer to our goal of leading the energy transition platform in the country.” Notably, Rohit Nanda, Head of Equity Group – Infrastructure team, Asia at SMBC, commends Amp India’s resilience and impressive growth, even amid the challenges posed by the pandemic, following SMBC’s initial investment in 2018.
The involvement of the Asian Infrastructure Investment Bank (AIIB) in this funding round adds to its significance. Rajat Misra, Director General of the Infrastructure Investment Department (Region 1) at AIIB, highlights the unprecedented nature of the institution’s first direct equity investment in a renewable Independent Power Producer (IPP).
Misra further emphasizes that AIIB’s financing will serve as a catalyst in attracting long-term private capital to accelerate Amp Energy India‘s ambitious business plan.
The partnership with SMBC, a renowned Japanese multinational banking and financial services institution, brings invaluable expertise to the table. Devarshi Das, Head of Asia-Pacific Infrastructure at ICG (Intermediate Capital Group), shares his enthusiasm for the collaboration, which marks ICG’s maiden investment in the Asia-Pacific Infrastructure sector.
Amp Energy chalks out ambitious energy transition plans
Amp Energy India’s remarkable achievements and ambitious targets underscore their commitment to driving the energy transition. Noteworthy highlights include an extensive portfolio exceeding 3GW, a late-stage pipeline of 2GW, a momentous goal of reaching 5GW within the next five years, a diverse customer base of over 60 clients across eight sectors, an impressive equity raised exceeding $200 million, and a robust presence in 15 states across India.
With this game-changing $250 million investment plan, Amp Energy India positions itself at the forefront of India’s energy transition, ushering in a sustainable and greener future for the nation.
The funding, secured from renowned financial institutions such as SMBC Bank of Japan (Sumitomo Mitsui Banking Corporation), ICG (Intermediate Capital Group), and AIIB (Asian Infrastructure Investment Bank), propels Amp Energy India towards its vision of becoming the foremost energy transition platform in the nation.
