AMPIN Energy Transition, a prominent company in the renewable energy sector in India, has secured a significant investment from responsAbility, a Swiss-based impact asset manager. The investment is part of responsAbility’s comprehensive USD 500 million climate investment strategy aimed at reducing CO2 emissions in Asia. responsAbility plans to invest up to USD 35 million in AMPIN to enhance its renewable energy initiatives across India.
This investment marks the largest climate financing commitment by responsAbility to date and will significantly aid AMPIN in expanding its renewable energy portfolio. Currently, AMPIN operates a balanced portfolio exceeding 3GWp, spanning 21 states in India, and is supported by various global institutional investors. The collaboration with responsAbility is a critical step towards AMPIN’s goal of achieving a 10 GWp renewable energy portfolio by 2030, contributing to an energy-independent India.
The funds from this investment will support a range of projects under AMPIN’s Special Purpose Vehicles (SPVs), particularly in the commercial and industrial solar sectors. The focus will be on a diverse set of industries including manufacturing, automotive, pharmaceuticals, healthcare, FMCG, and data centers. AMPIN aims to increase its operational capacity to 10 GWp by 2030, aligning with India’s national renewable energy target of 500 GW installed capacity.
Pinaki Bhattacharyya, MD & CEO of AMPIN Energy Transition, expressed enthusiasm about the partnership, stating, “We are happy to collaborate with responsAbility as this investment will fuel our mission to become the leaders in driving the renewable energy transition for commercial and industrial customers. With this infusion of capital, we are poised to accelerate our efforts in expanding clean energy access, driving economic development, reducing carbon emissions and navigating the country towards a sustainable and self-sufficient energy future.”
From responsAbility, Sameer Tirkar, Head of Climate Infrastructure Investments, APAC, highlighted the strategic nature of their investment. “Our investment in AMPIN, a leader in the renewable energy sector, emphasizes our commitment to renewable energy in India, particularly the C&I solar market. Drawing from our past experiences in the sector, we recognize the value of partnerships in advancing sustainable investing. Through our partnership with AMPIN, we aim to contribute to a more resilient energy infrastructure in India.”
Stefan Issler, also Head of Climate Infrastructure Investments at responsAbility, added, “We’re delighted to partner with AMPIN, signalling our joint commitment to sustainability and a cleaner future. With AMPIN’s established network and experienced leadership in India’s renewable energy sector, we’re poised for an impactful alliance. Together, we’ll expand renewable projects, ensuring affordable energy access, driving economic growth in India, and reducing CO2 emissions. It’s an exciting venture toward a more sustainable tomorrow!”
