Climate Fund Managers and Ampyr Energy have announced the commissioning of the Somasamudra Phase 1 solar photovoltaic (PV) plant in Karnataka, marking the fourth project delivered under the Ampyr Renewable Energy platform in India.
Located in Ballari district, the 67.5 MWp (50 MWac) open access solar PV project supplies renewable electricity to commercial and industrial (C&I) consumers. The project enables businesses to access long-term clean power while reducing dependence on fossil fuel-based grid electricity.
Ampyr Energy, the renewable energy platform of AGP Sustainable Real Assets, said the project forms part of its expanding India portfolio, which includes more than 500 MW of operational and under-construction renewable energy capacity, along with additional projects under development.
The project received support from Climate Investor One (CIO), a blended finance renewable energy infrastructure facility managed by Climate Fund Managers and backed by the European Union (EU). The initiative aligns with India-EU cooperation on climate action and renewable energy expansion, reaffirmed during the 16th India-EU Summit.
Development of the project was completed in August 2025, followed by construction, grid connectivity and regulatory approvals before commercial operations commenced.
Somasamudra Phase 1 is expected to generate more than 118 GWh of electricity annually and avoid over 97,000 tonnes of carbon dioxide (CO₂) emissions each year. The output is estimated to meet the electricity needs of around 125,000 people. The project also generated nearly 250 jobs during construction and is expected to support about 45 operational jobs.
According to the companies, India’s C&I segment continues to drive electricity demand growth amid rising energy costs and increasing decarbonisation requirements. The project aims to provide lower-cost and lower-carbon electricity to businesses in Karnataka through the open access model.
CIO deployed concessional funding through its Development Fund to support activities such as land acquisition, permitting and technical studies. The project later received equity investment from CIO’s Construction Equity Fund for plant construction.
Jirong Lim, Investment Director at Climate Fund Managers, said the project demonstrates the repeatability of the platform model and marks the first project under the Ampyr platform to be constructed using recycled capital.
Rajkumar Roy, Chief Executive Officer (CEO) of AMPYR India, said the project reflects the partnership’s ability to execute renewable energy projects efficiently while maintaining operational standards.
H.E. Ambassador Hervé Delphin, EU Ambassador to India, said the project highlights the role of blended finance instruments in accelerating industrial decarbonisation and renewable energy deployment.
The project also supports a community development programme in nearby villages. The initiative has so far conducted medical check-ups and distributed medicines to 142 villagers, with plans for further expansion through stakeholder consultations.
Climate Fund Managers and Ampyr Energy said they will continue expanding the renewable energy platform in India to support additional C&I projects and contribute to the country’s energy transition goals.
The EU has contributed EUR 88.3 million to CIO under its Global Gateway infrastructure strategy. Overall, the EU has committed EUR 178 million alongside a EUR 205 million European Fund for Sustainable Development Plus (EFSD+) guarantee to Climate Fund Managers’ operations to support clean energy infrastructure and project de-risking.
The featured photograph is for representation only.
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