AMPIN Energy Transition on Tuesday announced that responsAbility will invest up to $35 million on behalf of its investors in the renewable energy transition company.

responsAbility is a Switzerland-headquartered impact asset manager which specialises in private market investments. The investment is a part of its broader $500 million climate investment strategy aimed at actively reducing CO2 emissions in Asia.

“This investment represents responsAbility’s most substantial commitment to climate financing to date and will help AMPIN in growing its renewable energy portfolio across India. This is a significant step in responsAbility’s mission to mobilise capital and invest in solutions that generate positive societal and environmental impact in emerging markets,” AMPIN said.

The funds will enable AMPIN to undertake a range of projects under its various special purpose vehicles (SPVs), primarily in commercial and industrial (C&I) solar across a wide spectrum of sectors in India.

This includes manufacturing, auto and auto ancillary, pharma, healthcare, hospitals, FMCG and data centres. The company has plans to increase its operating capacity to 10 GWp by 2030.

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“With this infusion of capital, we are poised to accelerate our efforts in expanding clean energy access, driving economic development, reducing carbon emissions and navigating the country towards a sustainable and self-sufficient energy future,” AMPIN Energy Transition MD & CEOPinaki Bhattacharyya said.

Sameer Tirkar, Head of Climate Infrastructure Investments, APAC at responsAbility, said the investment in AMPIN emphasises the company’s commitment to renewable energy in India, particularly the C&I solar market.

responsAbility’d Head of Climate Infrastructure Investments Stefan Issler said, “We are delighted to partner with AMPIN, signalling our joint commitment to sustainability and a cleaner future. With AMPIN’s established network and experienced leadership in India’s renewable energy sector, we’re poised for an impactful alliance.”

AMPIN is a renewable energy transition company with a balanced portfolio of more than 3 gigawatt power (GWp) spread across 21 states in the country catering to both C&I and utility customers.