AMPIN Energy Transition secures 25 mn euros from OeEB for renewable energy expansion

AMPIN energy: In a significant move towards renewable energy expansion, AMPIN Energy Transition announced on Friday that it has secured a financial commitment of 25 million euros from OeEB, the Development Bank of Austria.

The company intends to utilise this long-term financing to bolster its renewable energy portfolio and establish a state-of-the-art 1 GW solar cell and module production facility in Odisha, as per a statement issued by AMPIN Energy Transition.

Highlighting the importance of this investment, the statement mentioned, "OeEB invests in AMPIN Energy Transition to support renewable energy investments. Through long-term financing of 25 million euros, OeEB supports AMPIN Energy Transition in growing its renewable energy portfolio and establishing a solar cell and module production facility in India."

With a current portfolio encompassing 3 GW spread across 21 states, AMPIN Energy Transition is steadfast in its goal to expand its renewable energy holdings to 10 GW by the year 2030.

This commitment aligns with the plans of renewable energy targets and underscores the growing importance of sustainable energy solutions in the country's energy landscape. AMPIN Energy Transition's strategic initiatives are poised to make a significant impact on India's renewable energy sector, contributing to a cleaner and more sustainable future.

(with PTI inputs)