India's AMPIN gets equity investment of up to $100 million from Norfund

Sept 21 (Reuters) - India's AMPIN Energy Transition on Monday said it secured an equity investment of up to $100 million from Norway's Norfund, giving the Indian renewable energy company fresh backing to expand operations.

Here are some details:

• The investment will support commercial and industrial projects, utility-scale renewable projects and other energy transition businesses, AMPIN said.

• The company, which is backed by global investors such as Japan's Sumitomo Corp 8053.T and Denmark's Copenhagen Infrastructure Partners, said that it has now raised nearly $1 billion in overall equity to support more than $4 billion of capital deployment.

• Norfund, the Norwegian government's investment fund for developing countries, made the investment through the Norwegian Climate Investment Fund, marking a deeper push into India's clean energy market.

• Norfund has previously invested in India's renewable energy sector through firms such as ReNew Power and Enel Green Power.

• The deal also broadens foreign investor support for India's renewable energy sector, as it pushes towards its target of 500 GW of non-fossil fuel power generation capacity by 2030.

• AMPIN said part of the funding would help expand its manufacturing business, alongside renewable power generation.