"Japan's Sumitomo Partners with Ampin Energy to Invest ₹6,000 Crore in Renewable Energy Production"

Japan’s Sumitomo Corporation has formed a joint venture with India’s Ampin Energy Transition to establish a new holding company that will invest 100 billion yen (approximately ₹6,000 crore) in developing renewable energy sources. The venture, named Ampin C&I Power, will focus on supplying power through power purchase agreements (PPAs) to corporate clients.

This collaboration marks Sumitomo's entry into India's corporate PPA market, with plans for future expansion. Sumitomo will hold a 49% stake in the joint venture, while Ampin will retain the majority ownership.

The new venture will provide renewable energy from sources such as solar and wind, aiming to deliver 1 GW (gigawatt) of power to industrial customers in the coming years. The focus will be on acquiring new clients, particularly Japanese-affiliated commercial and industrial companies operating in India.

Delhi-based Ampin Energy, a major player in renewable energy development with a portfolio of 4 GW and plans to expand to 10 GW by 2030, will bring its local expertise to the partnership. Sumitomo’s investment will support its strategy of developing a green power platform in India, integrating renewable energy generation with direct supply to client companies.

This joint venture represents Sumitomo’s first initiative to supply renewable energy to Indian companies, addressing the country’s increasing energy needs driven by rapid population and economic growth.

HBL