Sumitomo and AMPIN establish power company

Tokyo headquartered Sumitomo Corporation has partnered with AMPIN Energy Transition from New Delhi, India, to establish a new renewable energy company, AMPIN C&I Power Private Limited. Based in New Delhi, the company will focus on developing renewable energy sources such as solar and wind to supply power to commercial and industrial enterprises in India. This marks Sumitomo’s first foray into India’s corporate Power Purchase Agreement (PPA) market, a move aimed at expanding its renewable energy presence in the region. The project has a total cost of approximately 100 billion yen. AMPIN holds a majority 51% stake, while Sumitomo holds 49%.