Climate Fund Managers and AMPYR Energy are pleased to announce a partnership for the development, construction and operation of 138 MW of on-shore wind farms in India.
Climate Fund Managers (CFM), the manager of the Climate Investor One (CI1) financing facility, is pleased to announce a partnership with renewable energy developer AMPYR Energy for the development, construction and ownership of 138 MW of on-shore wind farm projects located in the state of Karnataka, India.
CI1’s Construction Equity Fund has invested US$ 32 million for the construction of the 38 MW Balenahalli project, which will be the first project constructed under this partnership. The collaboration makes use of AMPYR Energy’s extensive knowledge of the Indian energy market and CI1’s innovative end to end financing solution.
Nathan Schmidt, Head of Asia at Climate Fund Managers, stated “We are extremely pleased to partner with AMPYR Energy on our first wind project in Karnataka. The AMPYR Energy team have an impressive track record of delivering successful renewable energy projects that strongly align with CI1’s key objectives of displacing grid connected coal-fired power while implementing and promoting superior ESG practices for the project and broader community. The initial project will serve clean power to over 145,000 people.”
Rajkumar Roy, The CEO of AMPYR Energy, commented “We are excited about the partnership with CFM as this would help AMPYR Energy showcase it’s best in class institutional governance process and systems for delivering meaningful projects for powering a sustainable future.”
The Balenahalli Project will deliver an estimated 149 GWh of clean energy annually and avoid approximately 130,000 tonnes of GHG emissions per year, thus making a contribution to India’s objective to deliver electricity from sustainable sources as expressed in the country’s National Electricity Plan.
About AMPYR Energy
AMPYR Energy is a leading global renewable energy developer that develops, owns, manages construction and operation of renewable energy generation assets, with operations in India, Australia and the United Kingdom. AMPYR Energy is the renewable energy platform of AGP Sustainable Real Assets, an investor, asset manager and developer with a strategic focus on developing and operating sustainable real assets in high growth markets undergoing transformation because of modern technology and innovation trends.
About Climate Fund Managers
CFM is a leading blended finance fund manager dedicated to securing a sustainable future through investing across global emerging markets. CFM has a long-term vision to structure cutting edge financing facilities around thematic areas of climate change mitigation and adaptation, including renewable energy, water and oceans, sustainable land use and sustainable cities. CFM is established as a joint venture between the Dutch development bank FMO and Sanlam InfraWorks – part of the Sanlam Group of South Africa.
Climate Investor One (CI1) is the inaugural facility managed by CFM, focused on providing capital to renewable energy projects in developing countries. CI1 has a focus on Africa, South & Southeast Asia, and Latin America, and uses a whole-of-life financing approach intended to reduce implementation timelines. The facility also enjoys support from the EU through its External Investment Plan, a part of its wider commitment to sustainable development and climate change mitigation, as well as cornerstone support from the Ministry of Foreign Affairs of the Netherlands, the Nordic Development Fund (NDF) and USAID’s Power Africa programme.