CIP, AMPIN Energy expands partnership in India

Around 2 GW of renewables will be built.

Copenhagen Infrastructure Partners (CIP), through its Growth Markets Fund II, and AMPIN Energy Transition are targeting to develop 2 gigawatt-peak (GWp) of renewable energy projects across India, expanding their partnership in the country.

In a statement, CIP said the agreement enables joint equity investments in excess of $300m, creating a renewable energy asset base of around $1.5b.

The new partnership came after the initial deal entered in 2021 to enable joint equity investments of initially $200m in renewable energy projects in India. The partnership has since been extended with further investments of around $100m, expanding the initial target of 1.7 GWp to 2.4GWp.

Under the latest partnership, the 2 GWp target is expected to consist of solar, wind, hybrid and storage developments. It will focus on large-scale and central grid connected renewable energy projects in India.

“India is one of the world’s most important and dynamic renewable energy markets and a key focus for our Growth Markets Funds,” said Peter Sjøntoft, partner at CIP.

“Together, we’re building an asset base that will contribute meaningfully to India’s energy independence and sustainable growth goals,” said Pinaki Bhattacharyya, founder, MD and CEO of AMPIN Energy.