Renewable energy co. Ampin to raise $100-M from Norfund

The Climate Investment Fund, managed by Norway-headquartered Norfund, is investing USD 100 million in New Delhi-based renewable energy company Ampin Energy Transition . The capital will help finance around 2 GW of new solar and wind power.Ampin currently operates 2.5 GWp of renewable energy capacity out of a portfolio of 6.3 GWp, alongside solar manufacturing capacity of 1.3 GW for cells and 1.9 GW for modules. With the help of the investment, the company will build an additional 2.0 GWp and is targeting to reach 10 GWp of installed capacity by 2030.Norfund’s investment is expected to help mobilise a further USD 700 million in private capital, in a mix of equity and loans.