Amp Energy Closes Investments Totaling USD 250 Million From SMBC, ICG, and AIIB

Amp Energy India Chalks out New Identity as Ampin Energy Transition Private Limited

Delhi-based Amp Energy India, with a total portfolio of 2.7GW+ spread across 17 states in the country Mumbai, Bangalore & Kolkata. The company has secured up to USD 250 million from SMBC Bank of Japan (Sumitomo Mitsui Banking Corporation), ICG (Intermediate Capital Group), and AIIB (Asian Infrastructure Investment Bank) to fund the growth of the company.

The firm currently provides renewable energy transition solutions to marquee customers across ten diverse sectors, such as Pharmaceuticals, Automobiles, Cement, Steel, Heavy Engineering Infrastructure, FMCG, Educational Institutions, IT & Datacenters, Utilities, and Government bodies.

Speaking on the fundraise, Pinaki Bhattacharyya, Founder, MD, and CEO of Amp Energy India, commented, “With this round, we are on our way to be the leading energy transition platform in the country, and I thank our stellar team, supportive shareholders, the progressive government, customers, suppliers, lenders and intermediaries to reach this milestone. I welcome the three new marquee investors who have reposed their faith in us with their maiden investments to participate in India’s unstoppable energy transition journey”.

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SMBC is a Japanese multinational banking and financial services institution headquartered in Tokyo, Japan. Rohit Nanda, Head of Equity Group–Infrastructure team, Asia at SMBC, commented, “Since our initial investment in 2018, Amp India has shown remarkable resilience and achieved an impressive growth even during the pandemic period. We see tremendous potential in their C&I expertise and march into the utility field and are excited to contribute to their continued success through this follow-on investment. We are thrilled to continue our partnership with Amp India and furtherly support their innovative work in the renewable energy sector. “

ICG is an LSE-listed, leading global alternative asset manager with over 30 years’ of history, managing USD 68.5 billion of assets and investing across the capital structure.

AIIB is a multilateral development finance institution that provides capital for infrastructure development projects. AIIB began operations in January 2016 and has since grown to 106 approved members worldwide with capitalization at USD100 billion and AAA-rated internationally by reputed international credit rating agencies. Rajat Misra, Director General, Infrastructure Investment Department (Region 1) at AIIB, commented, “We are excited to partner with Amp Energy India, a leading energy transition entity with a diversified mix of portfolio across C&I clients and central utilities such as NTPC and SECI. This is the first direct equity investment of AIIBinto, a renewable IPP.”

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The funding for AMP Energy, besides a vote of confidence for the company management, also underlines the strong potential now being converted into reality in the C&I segment, which is expected by many to match, if not overtake, utility-scale capacity additions in the renewable energy sector soon in India.