Amp Energy secures $250M funding from SMBC Bank of Japan, ICG, AIIB

Energy transition platform Amp Energy India has secured up to $250 million (~Rs 2,061 crore) from SMBC Bank of Japan (Sumitomo Mitsui Banking Corporation), ICG (Intermediate Capital Group), and AIIB (Asian Infrastructure Investment Bank).

Amp Energy India, with a total portfolio of 2.7GW-plus spread across 17 states in the country, said it will utilise the $250 million funding to fund the growth of the company, according to a statement.

Amp Energy India provides renewable energy transition solutions to marquee customers across 10 diverse sectors--pharmaceutical, automobiles, cement, steel, heavy engineering infrastructure, FMCG, educational institutions, IT & data centres, utilities, and government bodies.

"With this round, we are on our way to be the leading energy transition platform in the country," Pinaki Bhattacharyya, Founder, MD and CEO of Amp Energy India, said.

Rohit Nanda, Head of Equity Group - Infrastructure team, Asia at SMBC said that since their initial investment in 2018, Amp India has shown remarkable resilience and achieved an impressive growth even during the pandemic period.

SMBC is a Japanese multinational banking and financial services institution headquartered in Tokyo, Japan.

Global alternative asset manager ICG's Head of Asia-Pacific Infrastructure Devarshi Das, said, "We are very pleased to announce our partnership with Amp India as the first investment for ICG's Asia-Pacific Infrastructure."

Multilateral development finance institution AIIB Director General-Infrastructure Investment Department (region 1) Rajat Misra said, "This is the first direct equity investment of AIIB into a renewable IPP. Our financing will also help the company attract long-term private capital in support of accelerating its business plan."