At the beginning of January 2024, OeEB signed a bilateral credit line in the amount of EUR 25 million with AMPIN Energy Transition Private Limited ("AMPIN Energy Transition") to support the growth of the company’s existing renewable energy portfolio and to establish a solar cell and module production facility in India.
|AMPIN Energy Transition Private Limited (“AMPIN Energy Transition”)
|Southern and Eastern Asia
|Energy / Resource Efficiency / Infrastructure
|OeEB project volume
|EUR 25 million
|International climate finance according to UNFCCC
AMPIN Energy Transition, formerly AMP Energy India Pvt. Ltd, is a leading renewable energy transition company with a total portfolio of 3 GWp across 17 states in India. Headquartered in New Delhi with regional offices in Mumbai, Bangalore & Kolkata, the company is run by an industry leading team of professionals and backed by leading institutional investors from Europe, Asia and North America. AMPIN Energy Transition has a balanced portfolio for C&I and utility customers, providing complete renewable energy transition solutions while reducing their operating costs. AMPIN Energy Transition aims to build a renewable energy portfolio of 10 GWp by 2030.
As part of a joint venture with a leading solar cell manufacturer in India, AMPIN Energy Transition is planning to set up a high-quality 1 GW cell and module production facility in the state of Orissa. This project not only supports the Indian government’s ambition to boost local manufacturing and foster self-reliance but will also help AMPIN Energy Transition enhance control over the supply chain for crucial components.
The aim of the financing is to support the further expansion of the renewable energy portfolio of the company and the establishment of a local solar cell and module production in India. The project is in line with OeEB's strategic focus on renewable energy and contributes to the cross-cutting topic of climate protection. The financing is 100% climate-creditable and thus contributes to achieving Austria's climate financing targets.