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<p>Climate Fund Managers (<a href="https://climatefundmanagers.com" target="_blank" rel="noopener noreferrer">CFM</a>) and <a href="https://www.ampyrenergy.com/" target="_blank" rel="noopener noreferrer">AMPYR Energy</a> announced that they have partnered to develop 138 MW of onshore wind farms in Karnataka.</p>
<p>CFM is a Netherlands-based investment manager with a focus on renewable energy infrastructure. It also manages the Climate Investor One (CI1) financing facility. AMPYR Energy is a renewable energy developer headquartered in Singapore.</p>
<p>The companies announced that CI1’s Construction Equity Fund had invested $32 million (~₹2.38 billion) for the construction of a 38 MW project in Balenahalli, Karnataka, which will be the first project under this new partnership.</p>
<p>According to CFM’s press statement, this project is expected to produce about 149 GW of clean energy every year and help avoid around 130,000 tons of greenhouse gas emissions annually.</p>
<p>“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 (Environmental, Social, and Governance) practices for the project and broader community,” said Nathan Schmidt, Head of Asia at Climate Fund Managers.</p>
<p>“The initial project will serve clean power to over 145,000 people,” Schmidt added.</p>
<p>Mercom India’s Research <a href="https://mercomindia.com/top-five-states-wind-energy/" target="_blank" rel="noopener noreferrer">showed</a> that Karnataka is the fourth-best state in the country for wind development. The state has around 4.8 GW of wind projects installed, which represents 13% of the country’s total installed wind power capacity.</p>
<p>Wind power installations in India <a href="https://mercomindia.com/2-07-wind-power-capacity-installed-india/" target="_blank" rel="noopener noreferrer">reached</a> 2.07 GW in the financial year (FY) 2019-20, a 31% increase as compared to 1.58 GW in the FY 2018-19. Cumulative installations stood at 37.69 GW as compared to 35.63 GW for the FY 2018-19. Wind power represented <a href="https://mercomindia.com/solar-share-india-installed-power-capacity-mix/" target="_blank" rel="noopener noreferrer">10.1%</a> of the total installed power capacity in India as of Q1 2020.</p>
<p>&nbsp;</p>
<p>Image credit: GERC</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/nithin-thomas-prasad/" class="vcard author" rel="author"><span class="fn">Nithin Thomas</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Nithin-2-1.jpg" width="50" /></p>
<p><strong style="text-decoration: underline">Nithin Thomas,</strong> Staff reporter at Mercom India<br />
<a href="https://www.mercomindia.com/author/nithin-thomas-prasad/" target="_blank" rel="noopener">More articles from Nithin Thomas.</a></p>
</div>
<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/Nithin-2-1.jpg" width="102" height="102" /><a href="https://www.mercomindia.com/author/nithin-thomas-prasad/" rel="noopener">Nithin Thomas</a> is a staff reporter at Mercom India. Previously with Reuters News, he has covered oil, metals and agricultural commodity markets across global markets. He has also covered refinery and pipeline explosions, oil and gas leaks, Atlantic region hurricane developments, and other natural disasters. Nithin holds a Masters Degree in Applied Economics from Christ University, Bangalore and a Bachelor&#8217;s Degree in Commerce from Loyola College, Chennai.<a href="https://www.mercomindia.com/author/nithin-thomas-prasad/" rel="noopener">More articles from Nithin Thomas Prasad</a></div>
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CFM Partners with AMPYR Energy to Set up 138 MW of Onshore Wind Farms in Karnataka

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