AMPIN Energy Transition said on Wednesday that it has secured an investment of $50 million from Siemens Financial Services, the financing arm of Siemens AG.
This investment will further strengthen AMPIN’s position as a leading player in India’s renewable energy transition, by making renewable power in India and make in India to power the global renewable energy transition.
These funds will fuel the company’s growth in both Commercial & Industrial (C&I) and Utility-scale renewable energy projects as well as its energy transition value chain business, Ampin said.
This marks AMPIN’s third major investment transaction this financial year, bringing the total equity capital raised to $270 million this year and taking the total equity capital to nearly $700 million to create a capital deployment of over $4 billion.
With robust capitalization AMPIN is well-equipped to scale its renewable energy portfolio and drive India’s energy transition.
Pinaki Bhattacharyya, MD, and CEO of AMPIN Energy Transition, said, “This equity investment from Siemens reaffirms AMPIN’s unique business model powering energy transition. It is now the only energy transition company in India to attract leading investors from Europe, North America and Asia.”’
In addition to capital, Siemens also brings strategic advantages being a global leader in energy technology, making them an ideal partner for our long-term growth, he added.
Steffen Grosse, CEO of Equity Finance at Siemens Financial Services, said, “Equipped for significant growth, India offers amazing long-term investment opportunities as the country strives to strengthen renewable energy growth across the value chain.”