Page 9 - AsiaElec Week 31 2021
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AsiaElec RENEWABLES AsiaElec
Copenhagen Infrastructure Partners to
invest $100mn in Indian renewables
INDIA DANISH fund managers Copenhagen Infra- Indus Law acted as legal advisor to AMP India.
structure Partners (CIP) is to invest $100mn KPMG India acted as exclusive financial advisor
in 1.7 GW of green energy projects in India and Trilegal as legal advisor to CI NMF.
together with its partner Amp Energy India. Amp India is backed by leading international
CIP said in a statement that its Copenhagen institutional investors from North America,
Infrastructure New Markets Fund I (CI NMF) Europe, Japan and India and is part of Canada’s
and Amp Energy would jointly spend $200mn Amp Energy.
on renewables projects that supply commercial Amp develops, owns and operates clean
and industrial (C&I) and utility customers across energy assets worldwide, while its Amp X plat-
the country. form uses artificial intelligence to run power
This deal is CI NMF’s first investment in the networks.
Indian renewable energy market and is the larg- The company is headquartered in Toronto
est commitment the fund has made since it was with global operations throughout Japan, Aus-
created in 2019. tralia, India, Spain, Czech Republic, UK and
Amp India CEO Pinaki Bhattacharyya said: North America.
“CIP is the world’s leading renewable energy Copenhagen Infrastructure Partners invests
focused infrastructure fund manager and their in offshore wind, onshore wind, solar PV, bio-
significant domain expertise is a strong value mass and energy-from-waste, transmission and
addition, in addition to being a capital partner. distribution, reserve capacity and storage, and
Both will be critical to success as we diversify other energy assets like Power-to-X.
our portfolio to include solar, wind and hybrid It is a partner in the 2.3-GW Vineyard Wind
in moving towards providing dispatchable clean project off Rhode Island and Massachusetts. CIP
energy to our C&I and Utility customers.” and Avangrid Renewables, owned by Iberdrola,
The two partners are to develop and construct the Spanish multinational electric utility, are the
an initial portfolio of 1.7 GW, with further ambi- two partners in Vineyard Wind.
tions to add additional projects. It also aims to develop the 3.5-GW La Gan
The portfolio comprises 900 MW of late-stage offshore wind farm in Vietnam at a cost of $10bn
projects, including solar PV and hybrid wind/ through its CI New Markets Fund I.
solar PV, and 800 MW of projects in earlier stages CIP is developing the Changfang and Xidao
of development. wind farms in Taiwan, which represent 600 MW
Amp India aims to develop 5 GW of renewa- of capacity, and aims to open them in 2024.
ble generation in India. CI NMF invests primarily in greenfield
Niels Holst, partner and head of CI NMF, renewable energy infrastructure projects in
commented: “India is a key focus for CI NMF fast-growing economies across Asia and Latin
and we are delighted to take this first important America, as well as certain countries in Eastern
step together with a great partner in Amp, who Europe where CI NMF sees scale, growth and
combines an excellent track record and shared liquidity.
values in developing and realising projects.” CIP manages eight funds with €16bn under
EY was the exclusive financial advisor and management.
Week 31 04•August•2021 www. NEWSBASE .com P9
