Denmark-based Copenhagen Infrastructure Partners (CIP), a renewable energy-focused fund manager, has agreed to invest US$ 100 million to fuel Amp Energy India’s solar portfolio expansion.
The agreement with Amp Energy was signed by CIP’s Copenhagen Infrastructure New Markets Fund I (CI NMF). It enables joint equity investments in excess of US$ 200 million in renewable energy projects in India, with the potential for future expansion.
The Amp India and CI NMF partnership aims to develop 1.7 GWp of utility-scale and commercial and industrial renewable energy projects initially. The portfolio comprises 900 MWp in late-stage projects (solar PV and hybrid wind-solar PV) and an additional 800 MWp of projects in earlier stages of development.
This transaction is CI NMF’s first investment in the Indian renewable energy market and its largest commitment since establishment in 2019.
Pinaki Bhattacharyya, Co-Founder, MD and CEO of Amp India, commented, “CIP is the world’s leading renewable energy-focused infrastructure fund manager and their significant domain expertise is 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 5 GWp target.”
Niels Holst, Partner and Head of CI NMF, added, “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 realizing projects.”
EY was the exclusive financial advisor and Indus Law acted as legal advisor to AMP India. KPMG India acted as exclusive financial advisor and Trilegal as legal advisor to CI NMF.
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: firstname.lastname@example.org.
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.