Amp Energy India develops, builds, owns and operates renewable energy power plants delivering power to both C&I and Utility customers.
Prior to this fundraise, Amp Energy India has secured $50 million from global alternative asset manager ICG. It was ICG's first investment through its Asia-Pacific Infrastructure team.
Founded in 2016, Amp Energy India is India's first truly balanced Renewable Energy IPP (Independent Power Producer) with a total portfolio of 2.7GW+ spread across 17 states in the country. It provides renewable energy transition solutions to marquee customers across 10 diverse sectors such as Pharmaceuticals, Automobiles, Cement, Steel, Heavy Engineering, Infrastructure, FMCG, Educational Institutions, IT & Datacenters, Utilities, and Government bodies.
Pinaki Bhattacharyya, Founder, MD and CEO of Amp Energy India said, "With this round we are on our way to be the leading energy transition platform in the country and I thank our stellar team, supportive shareholders, the progressive government, customers, suppliers, lenders and intermediaries to reach this milestone. I welcome the three new marquee investors who have reposed their faith in us with their maiden investments to participate in the unstoppable energy transition journey in India".
In April, Amp Energy India's subsidiary, AMPIN Solar One, has won 1GW capacity for integrating cell and module manufacturing under Solar Energy Corporation of India (SECI)’s performance-linked incentive (PLI) program Tranche II for integrating cell and module (CM) manufacturing. In January this year, Bosch India partnered Amp Energy India for its solar energy requirements in Karnataka.
SMBC is a Japanese multinational banking and financial services institution headquartered in Tokyo, Japan. The group operates in retail, corporate, and investment banking segments worldwide.
Rohit Nanda, Head of Equity Group – Infrastructure team, Asia at SMBC commented “Since our initial investment in 2018, Amp India has shown remarkable resilience and achieved an impressive growth even during the pandemic period. We see tremendous potential in their C&I expertise and march into the utility field and are excited to contribute to their continued success through this follow-on investment. We are thrilled to continue our partnership with Amp India and furtherly support their innovative work in the renewable energy sector."
ICG is a LSE-listed, leading global alternative asset manager with over 30 years’ history, managing USD 68.5 billion of assets and investing across the capital structure.
Devarshi Das, Head of Asia-Pacific Infrastructure at ICG commented “We are very pleased to announce our partnership with Amp India as the first investment for ICG’s Asia-Pacific Infrastructure. The rapidly growing demand for renewables and energy transition solutions throughout India presents an enormous opportunity in the market that we are well-positioned to capitalize on across the value chain. We believe strongly in the management team’s proven capabilities and are confident in the Company’s ability to execute on its growth strategy and scale effectively.”
Advertisements