Amp Energy India plans to raise more funds to power its expansion goals that involves setting up 5-gigawatt (GW) capacity in five years, its chief executive officer and managing director, Pinaki Bhattacharyya, told ETEnergyWorld.
“We have a medium-term plan to scale up to 5-GW capacity in the next five years… we are on a rapid growth path, we would continue to raise more capital to fund our expansion as required,” he said.
The Delhi-based integrated renewable energy power producer has recently raised $200 million from Copenhagen Infrastructure New Markets Fund, the largest renewable energy fund globally.
He said that the company is focussed on providing sustainable energy solutions to commercial and industrial, and utility customers. It provides end-to-end solutions across technologies such as solar, wind, hybrid, storage and energy trading.
Apart from this, he said that some of the major issues being faced by the solar sector in the country were policy uncertainty, increase in cost of supplies due to the imposition of duties, and delayed signing of PPAs and PSAs by SECI and NTPC.
“Another issue that has recently come up and is affecting the sector is the Supreme Court order for solar projects in Rajasthan and Gujarat to protect the endangered bird, Great Indian Bustard,” added Bhattacharyya.