Austria-based OeEB commits 25 million euros funding to AMPIN Energy Transition

New Delhi, Mar 29 (PTI) AMPIN Energy Transition on Friday said it has received a financial commitment of 25 million euros from OeEB, the Development Bank of Austria.

The company plans to utilise the long-term financing to expand its renewable energy portfolio and establish a 1 GW solar cell and module production facility in Odisha, AMPIN Energy Transition said in a statement.

"OeEB invests in AMPIN Energy Transition to support renewable energy investments in India. Through long-term financing of EUR 25 million, OeEB supports AMPIN Energy Transition in growing its renewable energy portfolio and establishing a solar cell and module production facility in India," the statement said.

AMPIN Energy Transition has a total portfolio of 3 GW across 21 states in India. The company aims to build a renewable energy portfolio of 10 GW by 2030. PTI ABI SGC HVA