May 10, 2024: AMPIN Energy Transition, a frontrunner in India’s renewable energy sector, has secured a significant investment of $35 million from responsAbility, a Swiss impact investor dedicated to sustainable solutions. This funding will be instrumental in accelerating AMPIN’s development of renewable energy projects throughout India.
This investment aligns with responsAbility’s broader climate action plan – a $500 million initiative launched in 2023 alongside Germany’s KfW development bank and the Dutch FMO. This strategy focuses on actively reducing carbon emissions in Asia by supporting innovative technologies like renewable energy, battery storage, electric vehicles, energy efficiency solutions, and the circular economy. It also provides attractive investment opportunities for institutional investors.
With an ambitious vision, the energy transition firm aims to reach a staggering 10 GW of operational renewable energy capacity by 2030. Their extensive reach spans across 21 states, serving over 70 customers in 10 diverse sectors, solidifying their position as a pan-India clean energy powerhouse.
AMPIN attracts responsAbility’s largest commitment to climate financing
The $35 million allocated to AMPIN marks responsAbility’s largest commitment to climate financing to date. This investment will significantly empower AMPIN to expand its renewable energy portfolio across India.
Headquartered in India, the Energy Transitionfirm is committed to becoming a leading clean energy provider. Their goal is to boost their operational renewable energy capacity to an impressive 10 GWp by 2030.
Currently, they manage a well-balanced portfolio exceeding 3 GWp, catering to both commercial and industrial (C&I) clients alongside utility companies. AMPIN boasts a proven track record, having developed numerous projects across 21 Indian states. They are also backed by a strong network of prominent global investors.
The funds provided by responsAbility will allow AMPIN to undertake a variety of projects through its special-purpose vehicles. The focus will be on commercial and industrial (C&I) solar solutions, targeting a wide range of sectors within India. This includes industries like manufacturing, automotive, pharmaceuticals, healthcare, data centers, and more.
By harnessing this investment, AMPIN Energy Transition is poised to make significant strides in powering a cleaner, more sustainable future for India. Their dedication to expanding renewable energy solutions will not only benefit the environment but also contribute to the nation’s economic growth and energy security.
