Norfund’s Climate Investment Fund is investing up to $100 million in AMPIN Energy Transition to support the development of around 2 GW of new solar and wind power backed by energy storage in India.
The investment is expected to help AMPIN build an additional 2 GW of renewable capacity by 2028, while the company targets 10 GW of installed capacity by 2030.
Norfund estimates that the projects could help avoid around 3.1 million tonnes of CO₂ equivalent annually once operational. The investment is also expected to mobilise up to $700 million in additional private capital through a combination of equity and loans.
AMPIN currently has a renewable energy portfolio of 6.3 GWp, including 2.5 GWp of operational renewable capacity, alongside solar cell and module manufacturing capabilities.
