CIP Signs $100 Mn Investment Agreement with Amp Energy India to Develop 1.7 GWp Renewable Energy Projects
Copenhagen Infrastructure Partners, among the largest renewable energy focused fund managers globally, has signed an investment agreement through its Copenhagen Infrastructure New Markets Fund I (CI NMF) with Amp Energy India.
July 31, 2021. By News Bureau
The agreement enables joint equity investments in excess of USD 200 million in renewable energy projects in India, with the potential for future expansion.
Amp India and CI NMF have targeted an initial 1.7 GWp portfolio of renewable energy projects, delivering clean and green energy to C&I and utility customers.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 CEOof Amp India commented “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 5 GWp 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.”
The partnership will develop and construct a portfolio of 1.7 GWp initially, with the ambition to add additional projects over time. The portfolio comprises c. 900 MWp in late-stage projects (solar PV and hybrid wind / solar PV) and an additional c. 800 MWp of projects in earlier stages of development.
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