With the global shift to renewable energy speeding up, India is becoming a key destination for green investments. The partnership between Sumitomo Corporation and AMPIN Energy Transition aims to pave the way for a greener future, with a groundbreaking investment of 100 billion Yen in renewable energy projects.

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This cooperation shows a rising dedication to sustainability and renewable energy acceptance in India, a nation predicted to nearly double the energy consumption by 2040 as per IEA.

The collaboration between these two industry leaders is a promising step in India’s energy transition, marking one of the largest corporate renewable energy projects undertaken by a Japanese company in the country. With this initiative, Sumitomo Corporation and AMPIN Energy Transition, one of the best clean energy companies in India, are set to make a substantial impact on the nation’s renewable energy landscape.

A Strategic Partnership

Sumitomo Corporation, a multinational conglomerate with vast global operations, brings to the table its extensive network of Japanese companies and technical expertise. On the other hand, AMPIN Energy Transition, a leading Indian renewable energy player, contributes local know-how and an impressive 4 GW renewable energy portfolio, including planned projects. Together, this joint venture is well-positioned to leverage the strengths of both companies to accelerate renewable energy development in India.

The joint venture will focus on acquiring new customers, primarily targeting Japanese-affiliated commercial and industrial (C&I) companies operating in India. By tapping into the growing demand for clean energy in the C&I sector, the partnership between independent power producers aims to supply 1 GW of power in the coming years. 

This venture is a significant milestone in addressing India’s rising energy demands and the urgent need to shift towards sustainable sources of power.

Meeting India’s Growing Energy Needs

India’s energy demand is on the rise, fueled by rapid industrialisation, urbanisation, and population growth. To keep up with this increasing demand while adhering to global climate commitments, the country is heavily investing in renewable energy sources such as solar and wind. 

In this context, the Sumitomo-AMPIN Energy Transition collaboration comes at a critical time. It not only aligns with India’s vision for a cleaner and greener future but also supports its goal of achieving 500 GW of renewable energy capacity by 2030.

Sumitomo Corporation’s General Manager, Seiji Kitajima, noted that this project marks the company’s first major renewable energy venture in India. He emphasised the importance of the partnership in expanding renewable energy-based power sources in the country. According to Kitajima, with a total project cost of around 100 billion Yen, this is one of the largest corporate power purchase agreement (PPA) projects ever undertaken by a Japanese firm in India.

Kitajima stated, “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.”

Driving Corporate Adoption of Renewable Energy

One of the key focuses of this joint venture is to drive renewable energy adoption among Japanese-affiliated commercial and industrial companies operating in India. With sustainability becoming a priority for global corporations, many companies are seeking ways to reduce their carbon footprint and embrace clean energy solutions. This joint venture aims to tap into that growing demand by providing a reliable source of renewable energy to meet the power needs of these businesses.

Pinaki Bhattacharya, the Founder, MD, and CEO of AMPIN Energy Transition, expressed his excitement about the collaboration. He remarked, “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.”

Driving Renewable Energy Adoption Together

With this venture, one of the clean energy companies in India, AMPIN Energy Transition, marks a new chapter in India’s renewable energy journey. With an investment of 100 billion Yen, this collaboration aims to drive renewable energy adoption in the commercial and industrial sectors, contributing to India’s energy transition goals.

 

The future of renewable energy in India looks bright, and with projects like this, the country is well on its way to achieving its ambitious sustainability targets.

Stay tuned for more updates on this transformative journey towards a sustainable energy future in India