Climate Fund Managers and AMPYR Energy have partnered to develop, construct and operate 138MW of onshore wind farms in India.

Climate Fund Managers (CFM), the manager of the Climate Investor One (CI1) financing facility, and renewable energy developer AMPYR Energy will develop the 138MW project in the state of Karnataka.

The collaboration makes use of AMPYR Energy’s extensive knowledge of the Indian energy market and CI1’s innovative end to end financing solution.

CI1’s Construction Equity Fund has invested $32 million in the construction of the 38MW Balenahalli project, which will be the first project constructed under this partnership.

The Balenahalli Project will deliver an estimated 149GWh of clean energy annually and avoid approximately 130,000 tonnes of greenhouse gas emissions per year, thus making a contribution to India’s objective to deliver electricity from sustainable sources as expressed in the country’s National Electricity Plan.

Nathan Schmidt, the head of Asia at Climate Fund Managers, said: “We are extremely pleased to partner with AMPYR Energy on our first wind project in Karnataka. 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 practices for the project and broader community. The initial project will serve clean power to over 145,000 people.”