Copenhagen Infrastructure Partners, through its Growth Markets Fund II, has entered into an agreement with AMPIN Energy Transition to create a new partnership with a view to enabling a further 2 GWp of renewable energy projects across India. The agreement enables joint equity investments in excess of USD 300 m, creating a renewable energy asset base of approximately USD 1.5 billion.
The new partnership follows the existing partnership of Ampin with CIP to enable joint equity investments of initially USD 200 m in renewable energy projects in India. The partnership has since been extended with further investments of USD 100 million to allow for an expansion of the portfolio from the initial target of 1.7 GWp to ~ 2.4 GWp. creating a renewable energy asset base of USD 1.2-1.5 billion.
For this second partnership, CI GMF II and AMPIN Energy Transition are initially targeting a portfolio of 2 GWp, expected to consist of solar, wind, hybrid and storage technologies. The partnership will focus on large-scale and central grid connected renewable energy projects in India.
CIP, through its Growth Market Funds, entered the Indian market in 2021 and has negotiated successful partnerships with AMPIN Energy and Viviid. It intends to continue to expand its activities in this market with existing and new potential partners and expects to build and commission several GW of renewable generation capacity over the coming years.
