Copenhagen Infrastructure Partners (CIP), among the largest renewable energy-focused fund managers globally, has signed an investment agreement through its Copenhagen Infrastructure New Markets Fund I (CI NMF) with Amp Energy India Private Limited (“Amp India”).
The agreement enables joint equity investments in excess of USD 200 million in renewable energy projects in India, with the potential for future expansion.
Amp India and CI NMF have targeted an initial 1.7 GWp portfolio of renewable energy projects, delivering clean and green energy to C&I and utility customers. This transaction is CI NMF’s first investment in the Indian renewable energy market and its largest commitment since its establishment in 2019.
Pinaki Bhattacharyya, Co-Founder, MD and CEO of Amp India commented “CIP is the world’s leading renewable energy-focused infrastructure fund manager and their significant domain expertise is strong value addition, in addition to being a capital partner. Both will be critical to success as we diversify our portfolio to include solar, wind and hybrid in moving towards providing dispatchable clean energy to our C&I and Utility customers. This is a key milestone as we march towards our goal of creating the first truly balanced and complete renewable power producer with a 5 GWp target “.
Niels Holst, Partner and Head of CI NMF commented“As one of the world’s most dynamic and competitive renewable energy markets, India is a key focus for CI NMF and we are delighted to take this first important step together with a great partner in Amp, who combines an excellent track record and shared values in developing and realizing projects.”
The partnership will develop and construct a portfolio of 1.7 GWp initially, with the ambition to add additional projects over time. The portfolio comprises c. 900 MWp in late-stage projects (solar PV and hybrid wind / solar PV) and an additional c. 800 MWp of projects in earlier stages of development.
EY was the exclusive financial advisor and Indus Law acted as legal advisor to AMP India. KPMG India acted as exclusive financial advisor and Trilegal as legal advisor to CI NMF.
About Amp India
Amp India is emerging as a leading balanced GW scale integrated renewable energy power producer in India that is focused on delivering clean and green energy to both C&I and utility customers. With a Pan India presence and a world-class team with proven experience in developing, financing, building and operating GW scale renewable energy project portfolios, it is targeting an overall portfolio size of 5 GWp in India. Amp India is backed by leading international institutional investors from North America, Europe, Japan and India.
Amp India is part of Amp Energy (Amp). Amp is a global energy transition platform. It develops, owns and operates clean energy assets throughout its core markets around the world, alongside Amp X, the disruptive grid-edge technology platform utilizing proprietary artificial intelligence expertise. The company is headquartered in Toronto with global operations throughout Japan, Australia, India, Spain, Czech Republic, UK and North America.
About Copenhagen Infrastructure Partners
Copenhagen Infrastructure Partners P/S is a fund management company focused on energy infrastructure including offshore wind, onshore wind, solar PV, biomass and energy-from-waste, transmission and distribution, reserve capacity and storage, and other energy assets like Power-to-X. CIP has approximately 200 employees and offices in Copenhagen, Hamburg, New York, Tokyo, Utrecht, and London.
CI NMF invests primarily in greenfield renewable energy infrastructure projects in fast-growing economies across Asia and Latin America as well as certain countries in Eastern Europe where CI NMF sees scale, growth, and liquidity.
CIP manages eight funds and has approximately EUR 16 billion under management. PensionDanmark was the founding and sole investor in CI I and CI A I. Today CIP’s funds have approximately 100 international institutional investors from the Nordics, Continental Europe, the UK, Israel, Asia, Australia, and North America and multi-lateral organizations e.g. EIB.
CIP was founded in 2012 by senior executives from the energy industry in cooperation with PensionDanmark.