Sumitomo Corporation and AMPIN Energy Transition Partner to Expand Renewable Energy in India

Sumitomo Corporation, based in Tokyo, Japan, partnered with AMPIN Energy Transition Private Limited, a renewable energy developer in India, to establish a new company called AMPIN C&I Power Private Limited. 

With this, Sumitomo Corporation makes its first significant foray into the expanding corporate Power Purchase Agreement (PPA) sector in India. 

AMPIN C&I Power Private Limited's main priorities are the development of renewable energy sources and the facilitation of a corporate PPA business that supplies client firms in India with power generated from renewable sources like solar and wind. 

With a project investment of over 100 billion yen, the business wants to provide sustainable energy to corporate clients in India. 

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The project will initially deliver 1 GW of power in the coming years, with plans for future expansion. 

Seiji Kitajima, the general manager of energy innovation initiative strategic business unit of Sumitomo Corporation, said, “With a total project cost of around 100 billion yen, we believe this is one of the largest corporate PPA projects undertaken by a Japanese company in India.

He added, “We are delighted to collaborate with AMPIN Energy Transition and, through this partnership, will strive to expand renewable energy-based power sources in rapidly growing India." 

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The new company will profit from AMPIN Energy Transition's local knowledge and network of Japanese companies.  

AMPIN Energy Transition presently has a 4 GW renewable energy portfolio, including planned projects. 

In pursuit of carbon neutrality by 2050, Sumitomo Corporation is working to establish businesses that serve as the foundation of a sustainable energy cycle.  

This entails boosting fuel conversion, increasing the availability of renewable energy sources, and improving carbon capture storage. 

Sumitomo Corporation aims to supply more than 5 GW in the renewable energy business by 2030.