Japan’s Sumitomo to Invest USD 1.3 Billion in Indian Renewable Projects

Sumitomo Corporation plans to deploy about USD 1.3 billion in India’s renewable energy sector, targeting fast-rising electricity demand from large industrial consumers. The capital will be channelled through a joint venture with domestic clean energy developer AMPIN Energy Transition.

Under this partnership, the companies aim to develop renewable projects with a combined capacity of 2 gigawatts by the end of the financial year ending March 2028.

Growing Corporate PPA Market

Sumitomo expects India’s corporate power purchase agreement (PPA) market to see rapid growth this decade. The company forecasts that installed capacity tied to corporate PPAs in the country will expand from about 12 GW in 2023 to around 100 GW by 2030.

Reflecting early momentum, Sumitomo has concluded roughly 10 PPAs with Japanese companies operating in India. These deals highlight growing demand from multinational manufacturers and service firms for reliable, renewable power supplies.

Joint Venture Structure

The Japanese trading house holds a 49 percent equity stake in AMPIN C&I Power, the joint venture vehicle focused on serving commercial and industrial (C&I) consumers, while AMPIN Energy owns the remaining share.

Through this structure, Sumitomo will combine its global trading and investment expertise with AMPIN’s local development capabilities, targeting renewable installations across India’s industrial and commercial hubs.

Supporting India’s Energy Transition

India still derives roughly half of its power demand from fossil fuels. Accelerated deployment of renewable power will be critical to advancing on the remaining gap and decarbonising industrial and commercial consumption.

Projects under the Sumitomo-AMPIN platform are expected to contribute to this shift, particularly by supplying cleaner power to corporates looking to reduce their carbon footprints and secure long-term energy costs.