Amp Energy India Pvt. Ltd., (“AMPIN”) a leading Energy Transition Platform in India, closes investments totaling up to USD 250 million from SMBC, ICG, and AIIB.
Amp Energy India Pvt. Ltd., (“AMPIN”) a leading Energy Transition Platform in India, closes investments totaling up to USD 250 million from SMBC, ICG, and AIIB.
Amp Energy India is a leading energy transition platform and India’s first truly balanced Renewable Energy IPP with a total portfolio of 2.7GW+ spread across 17 states in the country. Headquartered in New Delhi with regional offices in Mumbai, Bangalore & Kolkata. 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.
The Company has now secured up to USD 250 million from SMBC Bank of Japan (Sumitomo Mitsui Banking Corporation), ICG (Intermediate Capital Group), and AIIB (Asian Infrastructure Investment Bank) to fund the growth of the company. Pinaki Bhattacharyya, Founder, MD and CEO of Amp Energy India commented “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”.
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.”
AIIB is a multilateral development finance institution that provides capital for infrastructure development projects. AIIB began operations in January 2016 and has since grown to 106 approved members worldwide with capitalization at USD100 billion and AAA-rated internationally by the reputed international credit rating agencies. Mr. Rajat Misra, Director General, Infrastructure Investment Department, (Region 1) at AIIB commented “We are excited to partner with Amp Energy India, a leading energy transition entity with diversified mix of portfolio across C&I clients and central utilities such as NTPC and SECI. This is the first direct equity investment of AIIB into a renewable IPP. Supporting Amp Energy India with growth capital would contribute to greater leverage of AIIB’s funds and deliver stronger development impact in terms of capacity addition. Our financing will also help the Company attract long term private capital in support of accelerating its business plan. AIIB is committed to working with our various partners in aligning with the developmental needs of India in the transition towards achieving a net-zero carbon future.”
About Amp Energy India (“AMPIN”)
Founded in 2016, Amp Energy India is a leading balanced GW scale integrated renewable energy power producer in India that is focused on delivering clean and green energy to both C&I and utility customers. Amp Energy India acts as a One Stop Shop for Energy for renewable energy transition for customers using technologies such as Solar, Wind, Hybrids, Storage, and Energy Management, and has the ability to meet the short-term, medium-term, and long-term requirements of its customers.
The company has channelized capital from leading strategic and financial investors across the world such as Amp Energy Group (Leading global energy transition platform), Lightrock India (Backed by the LGT group), Copenhagen Infrastructure Partners (CIP), Core India Infrastructure Fund, SMBC and CBRE Caledon.
Luthra & Luthra acted for AMPIN Energy with a team led by Avirup Nag (Partner) and comprising of Ankit Sahoo (Managing Associate) and Kashish Singhal (Associate). EY acted as the financial advisor for part of the transaction with a team led by Kuljit Singh and Vikas Sharma.
