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AMPIN Energy and CIP to invest USD 300 million in India’s renewable projects

India, News

AMPIN Energy Transition has partnered with Copenhagen Infrastructure Partners (CIP) to invest USD 300 million in renewable energy projects across India.  This joint effort aims to establish a renewable energy asset base valued between USD 2.7 billion and USD 3 billion. Building on a USD 200 million joint equity commitment made in 2021, the collaboration highlights their focus on accelerating India’s green transformation and fostering innovation within the energy sector. AMPIN Energy Transition currently manages…

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AMPIN Energy partners with Varroc, secures 27 MWp solar project

India, News

AMPIN Energy Transition has signed an agreement with Varroc Group for an additional 27 MWp solar power project in Maharashtra, building on earlier solar installations across Maharashtra, Karnataka, Uttar Pradesh, and Tamil Nadu.  This new capacity brings Varroc’s total contracted solar power with AMPIN to over 60 MWp, enabling the Group to source around 70% of its energy needs from renewable sources. The shift is expected to reduce energy costs by approximately 45% across Varroc’s…

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AMPIN Energy Transition achieves financing for RE project in Rajasthan

India, News

AMPIN Energy Transition has achieved financial closure for its 200 MW solar-wind hybrid project in Rajasthan, securing green financing of Rs 7.42 billion from Standard Chartered. The total investment in the project is valued at Rs 9.44 billion. Upon completion, the plant is expected to generate approximately 435 million units of renewable energy annually, supplying power to around 74,486 households. Standard Chartered, committed to expanding its sustainable finance efforts, aims to mobilize USD 300 billion…

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AMPIN Energy aims to add 25 GW of RE capacity by 2030

India, News

AMPIN Energy Transition has set a goal to add 10 GWp of renewable energy capacity across various segments, including solar manufacturing and energy storage, over the next few years. This aligns with its broader commitment to contribute 25 GW of renewable capacity by 2030. Currently, AMPIN’s portfolio stands at 4 GWp, with plans to increase it to 10 GWp and expand its solar manufacturing capacity to 5 GW. The company will prioritize hybrid renewable projects…

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Sumitomo, AMPIN collaborate to develop 1 GW RE in India

India, News

Sumitomo Corporation has formed a joint venture with AMPIN Energy Transition Pvt Ltd to form AMPIN C&I Power Pvt Ltd for developing renewable energy assets in India and promoting corporate Power Purchase Agreements (PPAs) for supplying renewable electricity to businesses. The total project cost is approximately 100 billion yen and is expected to create a 1 GW portfolio of renewable energy assets backed by corporate PPAs. The joint venture will be owned 51% by AMPIN…

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EuroGroup to acquire 40% stake in India’s Kumar Precision Stampings

India, News

Italian electric motor component maker EuroGroup Laminations (EGLA) is set to acquire a 40% stake in India’s Kumar Precision Stampings.   Milan-based EGLA specializes in stators and rotors, key components of electric motors and generators, supplying major automotive and industrial manufacturers, including Volkswagen, Renault, Ford, GM, and a major undisclosed U.S.-based EV maker. EGLA will invest EUR 19.9 million for the stake in Kumar, which also produces stators and rotors for various industrial applications, facilitating EGLA’s…

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MNRE proposes ALMM expansion to include solar PV cells, raising concerns over cost and supply

India, News

The Ministry of New and Renewable Energy (MNRE) has proposed adding solar photovoltaic (PV) cells to its Approved List of Models and Manufacturers (ALMM), with implementation expected by April 2026.  This new category, termed “ALMM List-II,” would mandate that all ALMM-compliant solar projects source cells from certified domestic manufacturers. Experts caution that this move could increase tariffs by 40-50 paise per unit, affecting project costs, timelines, and India’s renewable energy targets.  Industry leaders, including AMPIN…

Power Sector News Roundup for October 18, 2024

Power Bytes

Global: Philippines DOE to commercialize three offshore wind projects Global energy system faces rising risks amid geopolitical strains: IEA Dominion Energy and Amazon sign MoU for SMR development in Virginia Ohmium partners with SwitcH2 Offshore for offshore green hydrogen and ammonia project ARCO/Murray to build Boviet Solar’s manufacturing hub in North Carolina IEA’s Fatih Birol: Fossil fuel demand to peak as world enters “age of electricity” Constellation Energy orders $100m transformer for Three Mile Island…

Power Sector News Roundup for October 4, 2024

Power Bytes

Global Development: TotalEnergies kick-starts its largest US utility-scale solar farms with batteries. GE Vernova to supply 38 turbines for Boulder Creek Wind Farm in Queensland. RES sells 436.5 MW Tarong West Wind Farm to Stanwell in Australia. Texas approves Permian Basin Reliability Plan to meet rising electricity demand. China has invested over $100 billion overseas in cleantech since 2023. Axess Technologies secures cable installation contract for Denmark’s Thor offshore project. Powin secures $200 million credit…

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Impact of Green Hydrogen Production on India’s Power System

Analysis, Features

Green hydrogen (GH2) is set to play a pivotal role in India’s path toward decarbonization. The country’s goal of producing 5 million tonnes of green hydrogen annually by 2030 is a key part of its strategy to reduce greenhouse gas emissions. This shift will require significant changes in India’s power system, particularly in the integration of renewable energy sources and grid flexibility. Below is a detailed analysis of the necessary adjustments to meet the rising…