Banpu NEXT, a subsidiary of Banpu PCL, a leading smart energy solution provider in Asia Pacific, has expanded its renewable energy portfolio through an investment in Amp Co., Ltd. (Amp Japan), a leading energy transition platform in Japan under Amp Energy and developer of renewable energy projects from an early stage until commercialization. Together with the Asia-Pacific Sustainable & Decarbonisation Infrastructure Equity, LP, a fund sponsored by Aravest and SMBC Group, the USD 145 million investment is completed.
“Amp Japan”, a subsidiary of Amp Energy – a global energy transition platform, is headquartered in Tokyo and established in 2016. Amp Japan is developing and building over 300 MW of solar farm projects and currently developing an additional 800 MW of solar and wind energy projects. The company is a pioneer in Japan’s Corporate Power Purchase Agreement (Corporate PPA) and other non Feed-in Tariff (FIT) markets, including utility and small-scale solar, wind energy, and battery energy storage systems. The joint investment contributes to the development of 800MW of solar and wind energy assets, Amp Japan’s objective is to create a 2GW platform before the turn of the decade.
Mr. Smittipon Srethapramote, Chief Executive Officer of Banpu NEXT, said: “Japan, one of Banpu NEXT’s key countries, is one of the global leaders in renewable energy market. The country targets 36-38% renewable energy in its electricity structure by 2030 with a focus on increasing domestic renewable energy sources such as solar and wind power, aiming to achieve the Net-Zero emissions goal by 2050*. Aspiring to become Asia Pacific’s Net Zero solutions provider, one of Banpu NEXT’s strategies is to actively collaborate with local partners to realize a sustainable energy future. Together with AMP Japan, we will leverage technological advancements to enhance the energy efficiency and uplift data analysis. We believe that this strategic partnership will accelerate our business growth and diversify our portfolio across various renewable energy assets.”
Mr. Martin Stein, Chief Executive Officer of Amp Japan, said: “With this strong commitment from both new and existing investors, we are now among the best-funded energy transition platforms in Japan and well on our way to becoming a leader in the space. I would like to thank our team, which is second to none, our investors for supporting our continued growth, and our customers and partners who have made our success possible.”
Mr. Dave Rogers, Founder and CEO of Amp Energy, said: ” We are incredibly proud of our Japan team, which has been a key part of Amp’s global platform over the past eight years, successfully developing over 300 MW of solar PV projects across the country. Amp remains deeply committed to being at the forefront of the energy transition globally, and with the support of our new co-investors, we are excited to see Amp Japan continue its impressive growth and contribute significantly to Japan’s transition toward cleaner and more efficient power generation.”
Mr. Rohit Nanda, Head of Aravest-SMBC Infrastructure Equity Fund, said: “The Japan renewable energy market has shown remarkable resilience and achieved an impressive growth in the last decade or so. We see tremendous potential in the new FIP regime and the potential corporate PPA market and are excited to contribute to lowering the carbon footprint of various corporates in Japan. We are equally thrilled to partner with Amp Japan, its strong on-the-ground team under the leadership of Mr. Martin Stein and further support their work in growing the Japanese renewable energy sector.”
Banpu NEXT will continue to realize its aspiration to become a Net Zero Solutions provider, driving an infinite of clean energy to support the transition to a Net Zero society and foster a sustainable world for all.
*Source: Energytrend.com-Japan: Renewable energy account
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