The project worth over USD 650 million aims to develop and supply 1 GW of power derived from renewable sources such as solar and wind to companies in India within the next few years.

Sep 17, 2024

Sumitomo Corporation and AMPIN Energy Transition Private Limited (hereinafter, “AMPIN Energy Transition”), a renewable energy developer in India, have established a holding company, AMPIN C&I Power Private Limited, to develop renewable energy power sources and promote a corporate Power Purchase Agreement (PPA) business supplying power derived from renewable sources such as solar and wind to client companies in India. With a total project cost of approximately 100 billion yen, this marks Sumitomo Corporation’s first entry into India’s corporate PPA market, with plans for further expansion.

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Mr. Seiji Kitajima, General Manager, Energy Innovation Initiative Strategic Business Unit of Sumitomo Corporation, said: “We believe this is one of the largest corporate PPA projects undertaken by a Japanese company in India. We are delighted to collaborate with AMPIN Energy Transition and, through this partnership, will strive to expand renewable energy-based power sources in rapidly growing India.”

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Mr. Pinaki Bhattacharya, Founder, MD & CEO of AMPIN Energy Transition, said: “This collaboration with Sumitomo Corporation highlights our unwavering commitment to accelerating renewable energy adoption in India. By combining our expertise and resources, we aim to co-develop and co-own renewable energy projects that will provide substantial long-term returns while significantly contributing to the nation’s energy transition goals.”