Austria Development Bank Invests In RE Firm AMPIN Energy

Austria Development Bank Invests In RE Firm AMPIN Energy

Renewable energy transition company AMPIN Energy Transition has announced an investment from OeEB, the Development Bank of Austria. OeEB will be investing EUR 25 million in long-term financing to support AMPIN Energy Transition in further expanding its renewable energy portfolio and establishing a local 1GW solar cell and module production facility in the state of Odisha, according to a press release by AMPIN.

The transition is already rapidly on its way with renewable electricity growing at a faster rate in India than any other major economy. With an average of 300 sunny days per year, there is vast potential for solar energy which plays a key role in achieving these goals.

“Supporting India’s transition to renewable energy is not only an important precondition for the country’s continued economic development but also essential for the global fight against climate change. Green finance and comprehensive climate action are at the core of our new strategy. We are proud to partner with AMPIN Energy Transition to support India’s commitment to green and sustainable growth”, comments Sabine Gaber, Member of OeEB’s Executive Board.

AMPIN Energy Transition is operating at 3 GWp across 21 states in India. AMPIN aims to build a renewable energy portfolio of 10 GWp by 2030 and this collaboration with OeEB is a pivotal step towards our vision of an energy-independent India.

“AMPIN is committed to driving India’s energy transition, and our collaboration with OeEB is a pivotal step toward our vision of an energy-independent India. We are grateful for OeEB’s trust and support of our mission. United in this endeavor, we are poised to transform the renewable energy generation & solar manufacturing landscape in India, strengthening the nation’s commitment to meet its ambitious renewable energy goals by 2030.” said Pinaki Bhattacharyya, MD & CEO, of AMPIN Energy Transition.

Earlier this month Odisha government’s State-Level Single Window Clearance Authority has sanctioned 22 projects valued at Rs 4,066.71 Crore. These projects were approved in the 129th meeting of the State Level Single Window Clearance Authority meeting chaired by Odisha Chief Secretary Pradeep Jena.