Japanese conglomerate Sumitomo Corp has announced a joint venture with Ampin Energy Transition to invest over ₹5,900 crore (100 billion yen) in renewable energy projects across India. The new entity, named Ampin C&I Power Private Limited, will be 51% owned by Ampin Energy Transition, with Sumitomo holding a 49% stake. Ampin did not disclose its financial input in the venture. The partnership aims to develop a 1 GW portfolio of renewable energy projects through corporate power purchase agreements (PPAs).
Seiji Kitajima, Executive Officer and General Manager of Energy Innovation at Sumitomo Corporation, highlighted that with an estimated project cost of 100 billion yen, this is one of the largest corporate PPA initiatives by a Japanese firm in India. This marks Sumitomo’s first renewable energy project to supply power directly to corporate clients in the country.
The funds will be used to develop, construct, and operate State Transmission Utility (STU) connected renewable energy projects aimed at Commercial & Industrial (C&I) consumers in India. Sumitomo and Ampin aim to create a comprehensive green energy platform, covering the entire value chain from generation to supply, with a focus on C&I clients.
Pinaki Bhattacharyya, Founder, MD & CEO of Ampin Energy Transition, expressed optimism, stating, “Our combined expertise will enable us to co-develop renewable energy projects that not only offer long-term returns but also align with India’s energy transition goals.” The joint venture will benefit from Ampin Energy’s local market knowledge and Sumitomo’s extensive international network, positioning it for substantial growth in India’s booming renewable energy sector.
