CIP’s New Market Fund has been set into the world to pursue new growth opportunities by exploiting CIP’s existing industrial skills, networks, and de-risking approach to create value investors – combining some of the industry’s most experienced investors with CIP’s proven ability to design, construct and commission world-class projects.
One of the investments that have come through the New Markets Fund, has been to support the growing renewable energy market in India. Through the so-called Unicus project, an investment agreement with the Indian power company Amp Energy has been signed to jointly spend over $200 million USD in renewable energy projects in India, with the potential for future expansion.
The project is the fund’s first in India and will be the largest since its establishment in 2019. CIP has committed $100 million USD to the partnership.Emerging markets such as India have a different dynamic than more established markets. As typical for emerging markets, Unicus projects are smaller than traditional CIP projects, and the governance and project delivery approach is scaled to reflect that. Equally, procurement construction and financing can also vary from what CIP is used to in established markets, so active collaboration is critical.