USD ~300 million joint equity investments to enable the addition of ~2 GWp of renewable energy projects across India. This new partnership along with the existing one is creating a USD 2.7 to 3 billion renewable energy asset base in India.

November 19, 2024 01:00 ET| Source: Copenhagen Infrastructure Partners

COPENHAGEN, Denmark, Nov. 19, 2024 (GLOBE NEWSWIRE) -- Copenhagen Infrastructure Partners (CIP), through is Growth Markets Fund II (“CI GMF II”), and AMPIN Energy Transition have announced an agreement to enter a new partnership with a view to enable another ~2 GWp of renewable energy projects across India. The agreement enables joint equity investments in excess of USD 300 million thereby creating a renewable energy asset base of approx. USD 1.5 billion.

The new partnership follows the existing partnership that CIP, through its Growth Markets Fund I (“CI GMF I”), and AMPIN Energy Transition entered in 2021 to enable joint equity investments of initially USD ~200 million in renewable energy projects in India. The partnership has since been extended with further investments of USD ~100 million to allow for an expansion of the portfolio from the initial target of 1.7 GWp to ~ 2.4GWp of projects thus creating a renewable energy asset base of USD 1.2-1.5 billion.

For this second partnership, CI GMF II and AMPIN Energy Transition are initially targeting a portfolio of ~2 GWp, expected to comprise of solar, wind, hybrid and storage technologies. The partnership will focus on large-scale and central grid connected renewable energy projects in India.

Pinaki Bhattacharyya, Founder, MD and CEO of AMPIN Energy Transition, commented on the extended partnership: “We’re happy by the continued confidence shown by CIP in our vision and growth plans. This deepened partnership not only strengthens our ability to expand our impact and accelerating India’s renewable energy transition but it also reinforces our shared commitment to driving innovation and sustainable value creation. Together, we’re building an asset base that will contribute meaningfully to India’s energy independence and sustainable growth goals.”

“India is one of the world’s most important and dynamic renewable energy markets and a key focus for our Growth Markets Funds. We are very happy to be expanding our collaboration with our trusted partners at AMPIN Energy Transition as an important part of our investment portfolio in renewable energy in India. We look forward to realizing the portfolio of new projects which will contribute to local growth and job creation while delivering attractive returns for our investors,” said Peter Sjøntoft, Partner at CIP.

CIP, through its Growth Market Funds, entered the Indian market in 2021 and has been successful in navigating the Indian market through partnerships with AMPIN Energy Transition and Viviid. CIP intends to continue to grow its activities in the Indian market together with both existing and new potential partners and expects to build and commission several GW of renewable generation capacity over the coming years.

About Copenhagen Infrastructure Partners
Founded in 2012, Copenhagen Infrastructure Partners P/S (CIP) today is the world’s largest dedicated fund manager within greenfield renewable energy investments and a global leader in offshore wind. The funds managed by CIP focus on investments in offshore and onshore wind, solar PV, biomass and energy-from-waste, transmission and distribution, reserve capacity, storage, advanced bioenergy, and Power-to-X.

CIP manages 12 funds and has to date raised approximately EUR 31 billion for investments in energy and associated infrastructure from more than 180 international institutional investors. CIP has approximately 500 employees and 14 offices around the world. For more information, visit www.cip.com

About AMPIN Energy Transition
AMPIN Energy Transition is India’s leading renewable energy transition company with a total portfolio of ~4 GWp spread across 21 states in the country. Headquartered in New Delhi with regional offices in Mumbai, Bangalore & Kolkata, AMPIN Energy Transition has a balanced portfolio of renewable energy assets using a blend of solar, wind and storage to provide green power to Utility and Commercial & Industrial Customers. It has a unique capability to provide renewable energy for 100% energy transition as well as reduce the operating costs of marquee customers across 10 diverse sectors such as Pharmaceuticals, Automobiles, Cement, Steel, Heavy Engineering, Infrastructure, FMCG, Educational Institutions, IT & Data Centres, Utilities and Government bodies. In addition to its core renewable energy generation business, AMPIN’s Energy Transition Enablers enhance its competitive edge by driving strategic initiatives in energy trading, solar cell and module manufacturing, green hydrogen, and energy storage, allowing it to become one of India’s leading energy transition players. AMPIN is driven by an industry leading team and backed by leading institutional investors from Europe, Asia and North America.

For further information, please contact:

CIP:
E-mail: media@cip.com

Oliver Routhe Skov, Head of Media Relations
Phone: +45 30541227
Email: orsk@cip.com

Thomas Kønig, Partner – Investor Relations
Phone: +45 7070 5151
Email: tkon@cip.com

AMPIN Energy Transition
Rajni Bhandari - rbhandari@ampin.energy
Aman Sahai - aman@prtidings.com