CIP, Amp Energy to invest in 1.7-GWp Indian renewables portfolio

Copenhagen Infrastructure Partners (CIP) and an Indian unit of Toronto-based global renewables platform Amp Energy have partnered up with the idea of developing an initial 1.7 GWp of utility and commercial and industrial (C&I) renewable energy projects in India.

CIP said in a statement on Monday that the two have committed to jointly invest over USD 200 million (EUR 168.3m) in such projects. The Danish infrastructure investor will make a USD-100-million equity investment through its Copenhagen Infrastructure New Markets Fund I (CI NMF).

Initially, CIP and Amp Energy India Pvt Ltd will aim to develop around 900 MWp of solar and hybrid wind-plus-solar projects, currently in the late stages of development, and then move on with around 800 MWp of projects in the earlier development phases.

The partners have ambitions to work on additional projects over time.

The investment agreement marks CI NMF’s first transaction in the Indian renewable energy field and is its largest commitment to date. “As one of the world’s most dynamic and competitive renewable energy markets, India is a key focus for CI NMF [..],” said Niels Holst, partner and head of CI NMF.

EY was the exclusive financial advisor to Amp India, while CI NMF was supported by KPMG India.

(USD 1.0 = EUR 0.841)

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