TOKYO -- Japanese trading house Sumitomo Corp. plans to invest 100 billion yen ($702 million) in India with a local company to develop solar and onshore wind power plants for supplying electricity to businesses, Nikkei has learned.
Sumitomo will establish a joint venture with startup Ampin Energy Transition, taking a 49% stake while Ampin holds 51%. The venture will build power plants across India, each with hundreds of megawatts of capacity.
