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“AMP Energy India is the fastest growing integrated energy solution provider in India”
Recently AMP celebrated its 10th Year Anniversary, How has the experience been till date?
AMP Energy India is the Indian arm of the AMP Energy group that celebrated its 10th year anniversary. AMP Energy India is the fastest growing integrated energy solution provider in India and is focussed on delivering clean and green energy to C&I customers. Within a short span of 3 years, AMP has developed a portfolio of 450+ MW across 15 states and is providing bespoke solutions its 40+ customers under the open access and distribution generation mode. AMP Energy India is one of the few companies in India that provides sustainable energy solutions across different technologies such as solar, wind, hybrids, storage and energy management with guaranteed savings and lock in predictability in energy costs
AMP Energy India has begun construction on UP’s 120MW open access solar project, It will be one of the largest open access solar energy projects in the state. What are your plans for the project?
We are setting up one of the largest portfolios of projects across four districts in UP. With an approx. investment of Rs 5 billion, the project will bring with itself local development as well as lowering power costs for some major industries, which will make the state – a more attractive investment destination. Once completed, the project will have economic, social and environmental benefits- job creation for the local community; leased lands will provide long term income to farmers and reduction of CO2 emissions of approx. 41,40,000 MT which is equivalent to planting approx. 24 lakh trees over the complete lifecycle of the plant.
What do you believe is the strength of your organisation and how do you stand apart from your competitors?
AMP Energy India’s core strength is its world class team with extensive and proven experience across the lifecycle of RE projects in India. In addition to this, AMP believes in the programmatic approach of building sustainable partnerships and engage with its customers on a long-term basis through project types & geographies. This coupled with a strong support of institutional project level investors across US, Europe & Japan and a network of strong financial partners helps to reduce project turn-around time which is not the case with many developers in the country.
What challenges does the company face on the business front & how does it plan to counter threats?
The challenges in the non-utility space include lack of scalability, policy uncertainty and lack of an established debt financing framework. However, we at AMP have designed our strategy to insulate our business from these issues. We concentrate on addressing the energy requirement needs of C&I consumers across policy stable geographies. In this manner, we have been able to build a balanced portfolio of projects with long term PPAs focussed on delivering affordable solar power to commercial & industrial customers with guaranteed savings on their energy costs. As a result, we have been able to create and build lasting relationships with lenders as well as investors which AMP Energy India is able to leverage to meet all our funding requirements.
What can be done to increase performance of the project while improving the life of the project?
AMP Energy India is one of the few companies that focuses on system quality and plant efficiency at all stages of the project lifecycle (be it development, implementation or operation). We follow industry best practices to ensure high levels of system reliability and safety. We believe that this not only ensures robust plant performance it also extends project life. Towards this goal AMP has established an experienced technical team with an aggregate industry experience of more than ~90 years of executing RE projects and delivering more than 1000MW. Additionally, we utilise a state-of-the-art technology solution for centralised monitoring of our installations across India.