AMPIN Energy Transition secures $50 million from Siemens

AMPIN Energy Transition stated on Wednesday that it has secured an funding of $50 million from Siemens Monetary Companies, the financing arm of Siemens AG.

This funding will additional strengthen AMPIN’s place as a number one participant in India’s renewable power transition, by making renewable energy in India and make in India to energy the worldwide renewable power transition. 

These funds will gasoline the corporate’s development in each Industrial & Industrial (C&I) and Utility-scale renewable power tasks in addition to its power transition worth chain enterprise, Ampin stated.

This marks AMPIN’s third main funding transaction this monetary yr, bringing the overall fairness capital raised to $270 million this yr and taking the overall fairness capital to almost $700 million to create a capital deployment of over $4 billion. 

With strong capitalization AMPIN is well-equipped to scale its renewable power portfolio and drive India’s power transition.

Pinaki Bhattacharyya, MD, and CEO of AMPIN Energy Transition, stated, “This fairness funding from Siemens reaffirms AMPIN’s distinctive enterprise mannequin powering power transition. It’s now the one power transition firm in India to draw main buyers from Europe, North America and Asia.”’

Along with capital, Siemens additionally brings strategic benefits being a worldwide chief in power know-how, making them a perfect associate for our long-term development, he added.

Steffen Grosse, CEO of Fairness Finance at Siemens Monetary Companies, stated, “Geared up for vital development, India presents wonderful long-term funding alternatives because the nation strives to strengthen renewable power development throughout the worth chain.”