Mumbai, May 7 (KNN) Ampin Energy Transition, formerly known as Amp Energy India, has secured USD 35 million in funding from ResponsAbility Investments AG, a Swiss impact asset manager.

The renewable energy company plans to use the investment to implement various commercial and industrial (C&I) solar projects across sectors like manufacturing, automotive, pharmaceuticals, healthcare, FMCG, and data centers in India.

The funding will support Ampin's ambitious goal of expanding its operating solar capacity to 10 gigawatt peak (GWp) by 2030.

This significant expansion aims to drive India's renewable energy transition and contribute to the country's target of 500 GW of installed renewable energy capacity.

"This investment will fuel our mission to become the leaders in driving the renewable energy transition for commercial and industrial customers," said Pinaki Bhattacharyya, Managing Director and CEO of Ampin Energy Transition, reported ET.

With businesses increasingly looking to transition to clean energy sources, Ampin's C&I solar projects will cater to this growing demand while aligning with India's climate goals.

The company's focus on solar energy generation is expected to play a crucial role in reducing carbon emissions and promoting sustainable practices across various industries.

By leveraging the USD 35 million funding from ResponsAbility Investments AG, Ampin Energy Transition is well-positioned to accelerate the deployment of solar power solutions and contribute to India's efforts towards a greener future.

(KNN Bureau)