AMPIN Energy secures $50m equity investment from Siemens Financial Services
India's AMPIN Energy Transition has procured a $50m equity investment from Siemens Financial Services, the investment division of Siemens.
The capital infusion will drive the AMPIN's expansion in both commercial and industrial (C&I) and utility-scale renewable energy projects while also enhancing its energy transition value chain business.
Specialising in renewable energy, AMPIN Energy Transition has a total portfolio of 5GWp distributed across 22 Indian states.
Siemens Financial Services Equity Finance CEO Steffen Grosse said: 'We are proud to invest in AMPIN, providing our financial expertise to support India and AMPIN's customers in their renewable energy transition.
'Equipped for significant growth, India offers amazing long-term investment opportunities as the country strives to strengthen renewable energy growth across the value chain.'
This represents AMPIN's third significant investment transaction in the current financial year, raising the total equity capital to $270m for the year. This also brings the total equity capital to nearly $700m so far, facilitating a capital deployment exceeding $4bn.
With the financial backing, AMPIN Energy Transition stated that it is well positioned to scale its renewable energy initiatives and also play an important role in expediting India's shift to sustainable energy.
AMPIN Energy Transition founder, managing director and CEO Pinaki Bhattacharyya 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. This partnership will also enable us to leverage cutting-edge technology and best-in-class solutions to expand our renewable energy footprint.'
Headquartered in New Delhi, AMPIN operates regional offices in Mumbai, Bangalore, and Kolkata.
"AMPIN Energy secures $50m equity investment from Siemens Financial Services" was originally created and published by Energy Monitor, a GlobalData owned brand.
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