Copenhagen Infrastructure Partners (CIP) and Ampin Energy Transition have expanded their collaboration to deliver 2GW of renewable energy projects across India.
The agreement facilitates joint equity investments exceeding $300m, to establish a clean energy asset base valued at $1.5bn.
This initiative represents a substantial upscaling from the original partnership formed in 2021, which began with a $200m investment commitment.
Since its inception, the alliance between CIP and Ampin has grown with additional investments of $100m, increasing the target from 1.7GW to 2.4GW of projects.
This expansion can increase the renewable energy asset base from $1.2bn to $1.5bn.
The second phase of the partnership, involving CIP's Growth Markets Fund 12 and Ampin, sets an initial target for a 2GW portfolio.
The focus will be on diverse renewable technologies, including solar, wind, hybrid and storage solutions.
The partnership will concentrate on large-scale and central grid-connected renewable energy projects.
Ampin Energy Transition founder, managing director and chief executive Pinaki Bhattacharyya stated: "We are happy by the continued confidence shown by CIP in our vision and growth plans.
"This deepened partnership not only strengthens our ability to expand our impact and accelerate India's renewable energy transition but also reinforces our shared commitment to driving innovation and sustainable value creation.
"Together, we're building an asset base that will contribute meaningfully to India's energy independence and sustainable growth goals."
CIP has been active in the Indian market since 2021 through its growth market funds, in collaboration with partners such as Ampin Energy Transition and Viviid.
CIP plans to further expand its Indian market activities, working with both current and new potential partners, and anticipates commissioning several gigawatts of renewable generation capacity.
CIP partner Peter Sjøntoft stated: "India is one of the world's most important and dynamic renewable energy markets and a key focus for our growth markets funds.
"We are very happy to be expanding our collaboration with our trusted partners at AMPIN Energy Transition as an important part of our investment portfolio in renewable energy in India.
"We look forward to realising the portfolio of new projects which will contribute to local growth and job creation while delivering attractive returns for our investors."
In October 2024, CIP committed to a 220MW battery energy storage project in Chile.
"CIP and Ampin to deliver 2GW of renewable energy in India" was originally created and published by Power Technology, a GlobalData owned brand.