News: ICG Asia-Pacific Infrastructure completes debut investment in Amp India

02/06/2023

Press Release -- ICG, the global alternative asset manager, on Tuesday, announced a US $50m investment in Amp Energy India Private Ltd. ("Amp India" or "the Company"), a leading renewable energy platform, with the option to invest an additional US $50m. The transaction marks the first investment by ICG's Asia-Pacific Infrastructure team located across Asia, focusing on mid-market transactions, corporate-led deals, and scaling platforms with a strong commitment to sustainable infrastructure.

data-14

Image credit: valntynsemenov / Picfliar

The transaction will support Amp India's growth plan, and ICG will work closely with the Company's highly experienced management team to continue capitalizing on the growing demand for renewables in the region. Bolstered by strong government support and decarbonization commitments from large corporates, India's renewables market is expected to add 145GW in the next five years.

Founded in 2016, Amp India is one of the fastest growing renewable developers in India with a 2.7GW portfolio at various stages and a pan-India presence of 150 employees across 16 states. The Company, backed by marquee investors at both the holding company and asset company levels, has a diversified strategy to cover both Commercial & Industrial projects, as well as Utility projects, adopting multiple technology solutions such as ground-mounted solar, wind/solar hybrid, floating solar, and rooftop solar.

Devarshi Das, Head of ICG Asia-Pacific Infrastructure, said:

We are very pleased to announce our partnership with Amp India as the first investment for ICG's Asia-Pacific Infrastructure. The rapidly growing demand for renewables and energy transition solutions throughout India presents an enormous opportunity in the market that we are well-positioned to capitalize on across the value chain. We believe strongly in the management team's proven capabilities and are confident in the Company's ability to execute on its growth strategy and scale effectively.
devarshi-das

Devarshi Das

Khaitan & Co and Latham & Watkins LLP served as legal counsels to ICG. 

-- ENDS --

About ICG

ICG provides flexible capital solutions to help companies develop and grow. We are a leading global alternative asset manager with over 30 years' history, managing $80.2bn of assets and investing across the capital structure. We operate across four asset classes: Structured and Private Equity, Private Debt, Real Assets, and Credit.

We develop long-term relationships with our business partners to deliver value for shareholders, clients, and employees, and use our position of influence to benefit the environment and society. We are committed to being a net zero asset manager across our operations and relevant investments by 2040.

ICG is listed on the London Stock Exchange (ticker symbol: ICP). Further details are available at www.icgam.com. You can follow ICG on LinkedIn and Twitter.

About Amp Energy India

Amp Energy India is India's first truly balanced Renewable Energy IPP with a total portfolio of about 2GW+ spread across 15 states in the country. Headquartered in New Delhi with regional offices in Mumbai, Bangalore & Kolkata, Amp India has a balanced portfolio of C&I and utility customers which allows it to provide clean and green energy solutions to 60+ marquee customers across 10 diverse sectors such as Pharmaceuticals, Automobiles, Cement, Steel, Heavy Engineering, Infrastructure, FMCG, Educational Institutions, IT & Datacenters, Utilities and Government bodies.

Amp Energy India acts as a One Stop Shop for Energy providing renewable energy solutions to customers across technologies such as Solar, Wind, Hybrids, Storage and Energy Management and has the ability to meet short-term, medium-term and long-term requirements of its customers.

Amp Energy India is also associated with the Amp Energy Group which has presence in key renewable markets such as US, Canada, India, Japan, Spain and Australia globally.

Advertisement

E.A.S.I. Consult LLC