Amp Energy India Secures $250 Million Funding to Fuel Growth and Lead Energy Transition
- ByStartupStory | June 12, 2023
In a significant boost to the renewable energy sector, Amp Energy India has successfully raised up to $250 million in funding from SMBC Bank of Japan, ICG, and AIIB. The investment will empower Amp Energy India to expand its operations and solidify its position as the leading energy transition platform in the country.
Amp Energy India, which already boasts a diversified portfolio of over 2.7GW across 17 states in India, plans to utilize the funding to further accelerate its growth and deliver renewable energy transition solutions to a wide range of industries, including pharmaceuticals, automobiles, cement, steel, infrastructure, FMCG, and government bodies.
Pinaki Bhattacharyya, Founder, MD, and CEO of Amp Energy India, expressed his enthusiasm for the company’s future prospects, stating, “With this round, we are on our way to be the leading energy transition platform in the country.”
The investment partners also shared their confidence in Amp Energy India’s capabilities and growth potential. Rohit Nanda, Head of Equity Group – Infrastructure team, Asia at SMBC, praised the company’s resilience and growth, saying, “Amp India has shown remarkable resilience and achieved impressive growth even during the pandemic period.”
Devarshi Das, Head of Asia-Pacific Infrastructure at ICG, highlighted the significance of their partnership with Amp India, stating, “We are very pleased to announce our partnership with Amp India as the first investment for ICG’s Asia-Pacific Infrastructure.”
Furthermore, Rajat Misra, Director General of the Infrastructure Investment Department (region 1) at AIIB, emphasized the institution’s commitment to supporting renewable energy initiatives, stating, “This is the first direct equity investment of AIIB into a renewable IPP. Our financing will also help the company attract long-term private capital in support of accelerating its business plan.”
The funding from SMBC, ICG, and AIIB not only strengthens Amp Energy India’s financial position but also signifies the growing confidence in India’s renewable energy market. As the country strives towards its clean energy goals, Amp Energy India is well-positioned to play a pivotal role in driving the energy transition and meeting the rising demand for sustainable power solutions.
With its impressive track record and unwavering commitment to renewable energy, Amp Energy India is poised for a bright future, contributing significantly to India’s sustainable development and achieving its clean energy aspirations.
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