The Ampyr Renewable Energy Platform, which CI1 is co-managing with Ampyr Energy India (“Ampyr”), seeks to address the urgent need for renewable power in India by developing a portfolio of renewable energy assets in India.
Our Development Partner
Ampyr Energy India Pte Ltd
We Invest
USD 5
million
Development Funding
USD 71.90
million
Expected Construction Equity Funding
Estimated Project Impact
-
38 MW + 60MWp additional capacity
-
254 GWh/year clean electricity
-
222 978 tCO2eq/year emissions avoided
-
231 construction jobs
-
249 712 people reached
Funding Rationale
The investment presents an attractive opportunity for CI1 for various reasons, which include:
CI1’s investment is used to finance the construction stage of the projects. This has reduced reliance on coal-fired power in India, reducing greenhouse gas emissions.
Karnataka is the seventh-largest Indian state by land area (191,791 km2) and has been one of the most progressive states in terms of solar development, which has catalyzed renewable generation in the state (it now has the largest installed renewable capacity in India).
Contract Signature
Date
September 2019
Commercial
Operations Date
August 2021 (38 MW)
Region
South Asia
Country
India
Business Model
IPP
Technology
Wind + Solar + Storage
Environmental & Social Category
B+
Sector
Renewable Energy
E&S Context
The E&S risk of the transaction has been classified as category B+ (in accordance with CI1’s risk categorisation), which is equivalent to International Finance Corporation (IFC) Category B. E&S impacts are limited and effective mitigation measures in line with international standards are available. No significant adverse risks have been identified. An IFC-compliant environmental and social impact assessment (ESIA) is currently being completed for both projects. Private land is being acquired through negotiated transactions. The proposed ESIAs will collect socio-economic data and review the land acquisition process. An environmental and social management plan (ESMP) will be implemented to manage potential E&S risks.
Disclosures
Here you can find and download all the relevant disclosure documents for this project:
Ampyr Energy
Sulekal
Balenahalli
