A.P. Moller Capital Enters India with 900 MW Renewables JV with Rays Power Infra
A.P. Moller Capital has made its first investment in India by partnering with Rays Power Infra to develop around 900 MW of large-scale renewable energy projects across the country.
December 23, 2025. By Mrinmoy Dey
The partnership will develop large-scale renewable projects across India, with the initial projects currently under development expected to reach a combined capacity of around 900 MW, the company said in a statement.
This investment marks A.P. Moller Capital Funds’ first investment in India, highlighting the country’s growing importance as a global hub for renewable energy capital and confidence in its long-term economic fundamentals as well as the firm’s continued ability to secure attractive investments in South and Southeast Asia, it said.
A.P. Moller Capital has a strong track record of investing in and scaling renewable energy businesses across Southeast Asia and Africa, including solar, wind and hybrid-power businesses, grid solutions and energy-efficiency assets, the company claimed, further adding that across its funds, A.P. Moller Capital has supported the development of more than 2 GW of renewable and transition-related capacity to date. The broader A.P. Moller Group has been active in India for more than 30 years through its logistics and services businesses, it said.
Commenting on the development, Semih Gökmen, Partner at A.P. Moller Capital, said, “This partnership allows us to deploy long-term capital into a high-quality pipeline in one of the world’s fastest-growing renewable markets. Our operational mindset positions us well to deliver utility-scale renewable capacity responsibly and efficiently. We are pleased to work with Rays Power Infra, whose development strengths complement our investment approach.”
Ketan Mehta, MD and CEO, Rays Power Infra, commented, “This partnership with A.P. Moller Capital marks a milestone for Rays Power Infra and reinforces our long-term vision of creating renewable energy infrastructure at scale. Their investment not only validates the strength of our development platform but also accelerates our ability to deliver sustainable, utility-scale solar assets across India.”
Kim Fejfer, Managing Partner and CEO, A.P. Moller Capital, added, “We are delighted to take this first meaningful step into India’s renewable energy market. India’s energy transition presents one of the most compelling long-term infrastructure opportunities globally, and we see strong policy support and market fundamentals driving unprecedented growth. Building on the A.P. Moller Group’s decades of engagement in India and A.P. Moller Capital’s experience in developing and scaling critical infrastructure businesses, we are well positioned to execute at scale in support of India’s rapidly maturing renewable energy market.”
The transaction is subject to customary closing conditions and expected to close in H1 2026.
please contact: contact@energetica-india.net.
Rajat Singh
Co-founder and CEO
Why Unified Intelligence is Key for C&I Renewables? Rajat Singh of EarthSync Answers
Nidhi Sharma
Director
R&D is an Integral Part of Zuvay Technologies' Growth Strategy, Says Director Nidhi Sharma
Anilkumar Mukundan
President – Sales
How Can India–Sweden Partnership Drive Decarbonisation?
Rajiv Kumar
CEO
What’s Behind Vedanta Aluminium’s Clean Energy Push? Rajiv Kumar Answers
Nirmal Reddy
President
Electric Mobility Success Depends on Execution, Not Intent, says ETO Motors’ Nirmal Reddy