Karnataka: CFM and AMPYR join hands to set up 138 MW wind farms

Karnataka: Climate Fund Managers (CFM) and AMPYR Energy announced that they have partnered to develop 138 MW of onshore wind farms in Karnataka. CFM is a Netherlands based investment manager with a focus on renewable energy infrastructure. It also manages the Climate Investor One (CI1) financing facility. AMPYR Energy is a renewable energy developer headquartered in Singapore.

The companies announced that CI1's Construction Equity Fund had invested $32 million which is almost equal to Rs 2.38 billion for the construction of a 38 MW project in Balenahalli, Karnataka. This will be the first project under this partnership. According to CFM's press statement, this project is expected to produce about 149 GW of clean energy every year and help avoid around 130,000 tons of greenhouse gas emissions annually.

Mercom India's Research showed that Karnataka is the fourth-best state in the country for wind development. The state has around 4.8 GW of wind projects installed, which represents 13% of the country's total installed wind power capacity.

Speaking on the occasion, Head of Asia at Climate Fund Managers Nathan Schmidt said, "The AMPYR Energy team have an impressive track record of delivering successful renewable energy projects that strongly align with CI1's key objectives of displacing grid connected coal fired power while implementing and promoting superior ESG (Environmental, Social, and Governance) practices for the project and broader community." He added, "The initial project will serve clean power to over 145,000 people."