This transaction is CI NMF’s first investment in the Indian renewable energy market and its largest commitment since its establishment in 2019
Copenhagen Infrastructure Partners (CIP) has signed an investment agreement through its Copenhagen Infrastructure New Markets Fund I (CI NMF) with Amp Energy India Private Limited (Amp India).
The agreement will enable joint equity investments of over $200 million in renewable energy projects in India, with the potential for future expansion.
The companies said in a statement that Amp India and CI NMF have targeted an initial 1.7 GWp portfolio of renewable energy projects, delivering clean and green energy to C&I and utility customers.
This transaction is CI NMF’s first investment in the Indian renewable energy market and its largest commitment since its establishment in 2019.
“This is a key milestone as we march towards our goal of creating the first truly balanced and complete renewable power producer with a 5 GWp target,” Pinaki Bhattacharyya, Co-Founder, Managing Director and Chief Executive Officer of Amp India said.
The portfolio comprises 900 MWp in late-stage projects (solar PV and hybrid wind / solar PV) and an additional 800 MWp of projects in earlier stages of development.
“As one of the world’s most dynamic and competitive renewable energy markets, India is a key focus for CI NMF and we are delighted to take this first important step together with a great partner in Amp, who combine an excellent track record and shared values in developing and realising projects,” Niels Holst, Partner and Head of CI NMF added.
EY was the exclusive financial advisor and Indus Law acted as legal advisor to AMP India. KPMG India acted as exclusive financial advisor and Trilegal as legal advisor to CI NMF.