Climate Investor One is invested in a 38 MW wind project in the state of Karnataka in India. The project, Ampyr I Balenahalli, reached operations in August 2021.
Our Development Partner 

Ampyr Energy India Pte Ltd

We Invest

USD 3.14
million

Development Funding

USD 37.90
million

Expected Construction Equity Funding 

Estimated Project Impact
  • 38 MW  additional capacity
  • 149 GWh/year clean electricity
  • 130 862 tCO2eq/year emissions avoided
  • 126 construction jobs 
  • 282 143 people reached 

Funding Rationale

The investment presents an attractive opportunity for CI1 for various reasons, which include:
CI1’s investment was used to finance the construction of the project. 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

Region 

South Asia

Country

India

Business Model 

IPP

Technology  

Onshore Wind

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:
Project Overview
Project Overview
Project Overview
Project Location
Project Location
Project Location
006_Ampyr (102)
007_Ampyr (108)