AMPYR Distributed Energy, an investor in on-site sustainable energy solutions, has announced a partnership with Oakes Energy Services.
The £50 million strategic partnership will focus on an immediate portfolio of behind-the-meter ground-mounted solar projects, delivered by Oakes. As a result of the agreement, the installer will deliver fully financed renewable energy projects for commercial and industrial customers as part of its ambitious growth plans.
Oakes managing director Nik Smith said the partnership would accelerate the company’s expansion and that AMPYR’s “commitment to simplifying behind-the-meter energy fits perfectly with our portfolio of projects”.
Miles Thomas, Chief Commercial Officer at AMPYR, said: “We expect to deploy more than £300 million of capital into renewable projects across the UK and Europe. Our focus is on simplifying net zero for corporate customers through innovative and sustainable financing solutions.
“Oakes Energy Services has a diversified portfolio of sustainable energy services that fully aligns with our ambition to remove barriers and make it easier to drive the adoption of renewable energy sources.”
AMPYR Distributed Energy was launched early this year by Singapore-based AGP, with an initial capital commitment of up to £100 million.
This latest announcement marks the third recent deal AMPYR has signed, which last week saw a £10 million framework agreement with Harvest Green Developments and a commitment of up to £40 million for Dowling Energy’s solar pipeline.
The Harvest Green deal sees the two companies working together to provide long-term financing for corporate energy purchase agreements (PPA), and included the sale of their 1.4 MWp solar portfolio to AMPYR.
The Dowling Energy partnership is part of an effort to launch 20MW of solar projects, with ADE’s deployment funded through PPAs.
Both partnerships with Dowling and Oakes represent AMPYR’s efforts to enter the ground-mounted solar market after previously focusing on rooftop solar and battery energy storage.
