- AMP Energy has now secured up to USD 250 million from SMBC Bank of Japan (Sumitomo Mitsui Banking Corporation), ICG (Intermediate Capital Group), and AIIB (Asian Infrastructure Investment Bank) to fund the growth of the company.
About AMP Energy India Pvt. Ltd.:
- Founded in 2016, Amp Energy India Pvt. Ltd. is backed by leading institutional investors across Canada, US, Europe and Japan and has developed a network of strong financial partners.
- AMP Energy develops, builds, owns and operates renewable energy power plants delivering power to both C&A and utility customers.
- Amp Energy India acts as a One Stop Shop for Energy for renewable energy transition for customers using technologies such as Solar, Wind, Hybrids, Storage, and Energy Management, and has the ability to meet the short-term, medium-term, and long-term requirements of its customers.
About the Investors:
- SMBC is a Japanese multinational banking and financial services institution headquartered in Tokyo, Japan. The group operates in retail, corporate, and investment banking segments worldwide.
- ICG is a LSE-listed, global alternative asset manager with over 30 years’ history with USD 68.5 billion of assets under management and investing across the capital structure.
- AMP India is the first investment for ICG’s Asia-Pacific Infrastructure.
- Established in 2016, AIIB is a multilateral development finance institution that provides capital for infrastructure development projects.
- AIIB has capitalization at USD100 billion and AAA-rated internationally by the reputed international credit rating agencies.
- This financing will also help AMP Energy in attracting long-term private capital in support of accelerating its business plan along with focus on Net Zero Carbon Future.
- 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.
- The company has channelized capital from leading strategic and financial investors across the world such as Amp Energy Group, Lightrock India (Backed by the LGT group), Copenhagen Infrastructure Partners (CIP), Core India Infrastructure Fund, SMBC, and CBRE Caledon.
- Previously in 2021, Adani Green Energy Ltd. (AGEL) acquired SB Energy India for USD 3.5 Billion to strengthen its position in the renewable energy sector in India.
- In August 2021, ReNew Power merged with NASDAQ listed Special Purpose Acquisition Company (SPAC) RMG Acquisition Corp. II (RMG II) at enterprise value of USD 8 Billion.
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