responsAbility to invest up to USD 35 Million in AMPIN Energy Transition, one of India’s Largest Renewable Energy C&I Developers

Zurich and Delhi, May 7th 2024 - As part of its broader USD 500 million climate investment strategy aimed at actively reducing CO₂ emissions in Asia, responsAbility will invest up to USD 35 million on behalf of its investors in AMPIN Energy Transition Private Limited (AMPIN), India’s leading renewable energy transition company. This investment represents responsAbility's most substantial individual commitment to climate financing to date. It will help AMPIN  in growing its development of renewable energy projects across India and is a significant step in responsAbility’s mission to mobilize capital and invest in solutions that generate positive societal and environmental impact in emerging markets. 

Headquartered in New Delhi, India, AMPIN is India’s leading renewable energy transition company with a balanced portfolio of 3GWp¹ catering to both C&I and utility customers. It has developed multiple projects across 21 states in the country and is backed by strong marquee investors from across the globe.  

Supporting India’s Renewable Energy Growth  

The fund will enable AMPIN to undertake a range of projects under its various subsidiaries, primarily in commercial and industrial (C&I) solar across a wide spectrum of sectors in India. This includes manufacturing, auto & auto ancillary, pharma, healthcare,hospitals, Fast-Moving Consumer Goods (FMCG), and data centers. The company has plans to increase its operating capacity to 10 GWpby 2030 and contribute to India’s renewable energy goal of 500 gigawatts (GW) of renewable energy installed capacity.This effort, aligned with the UN's Net Zero targets, underscores the commitment to a more sustainable and eco-friendly future.

Founder’s Vision for India’s Renewable Energy Growth 

Pinaki Bhattacharyya, MD & CEO, AMPIN Energy Transition, said: “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.”  

responsAbility’s commitment to impact investing partnerships in India & Southeast Asia 

Sameer Tirkar, Head of Climate Infrastructure Investments, APAC at responsAbility, said:“Our investment in AMPIN, a leader in distributed generation solar projects, emphasizes our commitment to renewable energy in India, particularly the C&I solar market. Drawing from our past experiences in the renewable energy 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, Head of Climate Infrastructure Investments at responsAbility, said: “We're delighted to partner with AMPIN, signaling our joint commitment to sustainability and a cleaner future. With AMPIN’s established network and experienced leadership in India's renewable energy sector, we are poised for an impactful alliance. Together, we will expand renewable projects, ensuring affordable energy access, driving economic growth in India, and reducing CO₂ emissions. It is an exciting venture toward a more sustainable tomorrow!” 

_{1 The operating capacity of 3 GWp can potentially supply electricity to nearly 1,400,000 Indian households annually.}