AMPIN Energy and Varroc Expand Partnership with Another 27MWp Solar Project, Achieving 60MWp Pan-India Capacity

New Delhi, India – 28^th October 2024 – AMPIN Energy Transition, India’s leading renewable energy transition company has strengthened its alliance with Varroc Group by signing a transaction document for an additional 27MWp solar power project in Maharashtra.

This significant order follows the successful & timely implementation of AMPIN’s initial solar projects in Maharashtra, Karnataka, Uttar Pradesh & Tamil Nadu, marking a substantial leap forward in their collaborative journey towards a sustainable future.

This new PPA marks a repeat order from Varroc Group, highlighting their continued trust and satisfaction with AMPIN’s renewable energy solutions.

With this additional capacity, Varroc’s total contracted solar capacity with AMPIN soars to an impressive >60MWp and this latest PPA will enable Varroc Group to meet approximately 70% of their energy requirements with clean, renewable energy. This shift is projected to result in substantial cost savings, with an estimated 45% reduction in energy costs across their manufacturing plants in Maharashtra.

The new 27MWp solar project is set to further enhance Varroc Group’s commitment to reducing their carbon footprint by mitigating 35,500 MT of CO2 per year and embracing sustainable practices. The installation is expected to make a significant impact by delivering clean energy and reinforcing the company’s position as a leader in environmental stewardship within the manufacturing sector.

AMPIN continues to solidify its position as the unrivalled leader in Maharashtra’s renewable energy landscape. Leveraging its state-of-the-art Solar Park in Maharashtra, AMPIN is dedicated to driving forward the energy transition and becoming a renewable energy partner of choice for its customers.

“We are excited to extend our partnership with Varroc Group through this new PPA which is a repeat order is a testament to the trust and confidence they have place in AMPIN. This agreement underscores our commitment to supporting our clients in meeting their sustainability goals while providing cost-effective energy solutions. We remain committed to providing innovative renewable energy solutions that pave the way for a sustainable future and strengthen our relationships with our valued partners.” said Mr. Pinaki Bhattacharyya, MD & CEO at AMPIN Energy Transition.

The project aligns with Maharashtra’s broader energy goals and supports the state’s commitment to increasing the adoption of renewable energy sources. AMPIN is the only renewable energy developer in the state operating multiple solar open access projects and is actively investing in new capital to develop more renewable projects, providing renewable energy transition options to C&I consumers in Maharashtra.

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 visit https://ampin.energy/

Media Contacts: Rajni Bhandari – [email protected]; Aman Sahai – [email protected]

About Varroc

Varroc Engineering Ltd is a global tier-1 automotive component group. It was incorporated in 1988. The group manufactures and supplies electricals-electronics, polymers, metallics and exterior lighting systems to leading OEM’s with end-to-end capabilities across design, development and manufacturing for two-wheeler, three-wheeler, passenger vehicles, commercial vehicle, and off-highway vehicle worldwide. The group income was ₹ 75,795 million from continued operations in FY24. The group employs more than 7,000 employees (750 + R&D Engineers), has 36 global operating manufacturing facilities supported by 7 R&D Centres, and has more than 100 patents.

Varroc Engineering Limited’s shares are listed on the National Stock Exchange (VARROC) and the Bombay Stock Exchange (541578).

For further information on Varroc Engineering Limited please visit www.varroc.com