AMPYR Distributed Energy has formed strategic partnerships with two companies to drive the rollout of solar projects.
AMPYR has signed a £10 million framework agreement with Harvest Green Developments, which will see the two companies work together to provide long-term financing for energy purchase agreements (PPA) to companies looking to decarbonize their operations. As part of the deal, Harvest Green sold its 1.4 MWp solar portfolio to AMPYR.
Sam Brown, Managing Director of Harvest Green, said: “This is an important milestone in the growth of our business. During our due diligence for the sale of our project portfolio, we found that AMPYR was the most attractive financing solution on the UK market. Their pragmatic approach to rooftop solar was very refreshing. With a mature pipeline of solar PV and battery storage projects and this new partnership now well underway, I am very optimistic about our future developments.”
Neil Borrill-Carroll, development director at AMPYR, added: “This agreement enables growth for both parties. We have secured an operational asset, in addition to an attractive pipeline of ready-to-build and development-stage projects. It aligns with our business model to work with established partners and be their financier of choice for on-site energy solutions. We provide flexible capital and streamlined processes, allowing partners to deliver more projects at greater speed. We are excited to deploy even more capital with Harvest Green Developments and help UK businesses simplify next zero.”
AMPYR and Dowling Energy join forces
Today (August 22), AMPYR announced it has entered into a strategic partnership with Dowling Energy. AMPYR will make a total commitment of up to £40 million to Dowling’s solar pipeline in a bid to launch 20 MW of solar projects. AMPYR’s deployment will be funded through PPAs, while Dowling will work with landowners and off-takers to ensure the best possible experience for everyone involved.
Dowling Energy is working with the real estate industry to support the transition to net zero by helping landowners approached by developers for solar developments, and by helping companies size, price and install their own renewable energy systems.
This partnership allows AMPYR to expand into the ground-mounted solar market after previously focusing on rooftop solar.
Miles Thomas, Chief Commercial Officer at AMPYR, welcomed the deal, commenting: “Having raised an initial £100 million of equity capital and given our current trajectory, we are perfectly positioned to be the largest sector lender in Great Britain. Britain and across Europe, expect to have more than £300 million total capital (with debt) in the space.
“While many of the initiatives we have funded to date have focused on rooftop solar and battery storage technology, ground-mounted private cable solar systems will also play a critical role in helping larger companies take advantage of all the benefits of distributed energy. , without any upfront costs.”
Managing director at Dowling Energy, Oliver King, added: “This strategic partnership is perfect for a company like ours, which is working hard to do things differently. We are impressed by the speed and dynamism of AMPYR, as well as the team’s willingness to work with us on new concepts. Because our goals are closely aligned, it is a partnership that will work well for both companies.”
