CI-NMF signs $200 million investment agreement with Amp energy
Amp India and C&I NMF plan to deliver clean electricity to C&I and utility customers with an initial portfolio of 1.7 GWp renewable energy projects.
Among the world’s largest renewable energy-focused fund managers, Copenhagen Infrastructure Partners (CIP) has signed an agreement to invest with Amp Energy India Private Limited through its Copenhagen Infrastructure New Markets Fund I (CI-NMF).
As part of a deal, CI-NMF and Amp Energy India Private Ltd have agreed to invest USD 200 million (around Rs 1,500 crore) in renewable energy.
CI-NMF has invested in the Indian renewable energy market for the first time since its establishment in 2019, and this deal represents its largest commitment to date.
Through the agreement, the companies can jointly invest more than USD 200 million in renewable energy projects in India, with the possibility to expand.
Amp India and CI-NMF plan to deliver clean electricity to C&I and utility customers with an initial portfolio of 1.7 GWp renewable energy projects.
This 1.7 GW portfolio comprises a total of 900 MW (solar PV and hybrid wind/solar) that are in advance-stage of development, while another 800 MW are in an early stage of development.
Commenting on the agreement, Niels Holst, partner and head of CI-NMF stated that India being one of the world’s most dynamic and competitive energy markets, it is a priority market for CI NMF.
“We are thrilled to take this first step with Amp, who combines excellent project development and realization experience in India,” Holst added further.
AMP India’s Pinaki Bhattacharyya noted that CIP is the world’s leading renewable energy-focused infrastructure funds manager and their expertise in the industry makes them a powerful asset partner.
Bhattacharya further stated that in a quest to become the first truly balanced and complete renewable power producer with a 5 GWp target, this is a critical milestone.
He added that both parties will play a crucial role in the success, especially with the diversified portfolio that is to incorporate solar, wind, and hybrid technologies to provide dispatchable clean energy to the commercial and industrial, as well as utility customers.
Amp India has emerged as India’s largest integrated renewable energy power producer on a balanced, multi-GW scale, which is focused on supplying clean and green power to the commercial and industrial sector and to the utility sector as well.
The Copenhagen Infrastructure Partners P/S is a fund management company that operates in the offshore & onshore wind power, nuclear, solar, and biomass sectors. It additionally operates in transmission and distribution, as well as reserves and storage capacity.
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