AMPYR Distributed Energy has formed strategic partnerships with two firms to boost the rollout of solar energy projects.
AMPYR has inked a £10 million framework agreement with Harvest Green Developments, allowing the two companies to work together to provide long term power purchase agreement (PPA) financing for businesses seeking to decarbonise their operations. As part of the deal, Harvest Green has sold its 1.4MWp solar portfolio to AMPYR.
Sam Brown, managing director of Harvest Green, said: “This is a significant milestone for our business’ growth. During our due diligence for selling our project portfolio, we found AMPYR to be the most attractive funding solution in 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 in full swing, 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, alongside an attractive pipeline of ready-to-build and development-stage projects. It aligns with our business model to work collaboratively with established partners and be their funder 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 further capital with Harvest Green Developments and help businesses across the UK simplify next zero.”
AMPYR and Dowling Energy join forces
Today (22 August), AMPYR has announced that it has established a strategic partnership with Dowling Energy. AMPYR will make a total commitment of up to £40 million to Dowling’s solar pipeline in an effort to launch 20MW of solar projects. AMPYR’s commitment will be funded through PPA’s, while Dowling will work with landowners and offtakers to ensure the best possible experience for all involved.
Dowling Energy works with the real estate sector to assist the transition to net zero by assisting landowners who have been approached by developers for solar developments, as well as helping businesses size, price and install their own renewable energy systems.
This partnership gives AMPYR the opportunity to move further into the ground-mounted solar market, having previously primarily focused on rooftop solar.
Miles Thomas, chief commercial officer at AMPYR, welcomed the deal, noting: “Having raised an initial £100m in equity and given our current trajectory, we are perfectly positioned to be the sector’s leading funder in the UK and across Europe, expecting to deploy in excess of £300m total capital (with debt) into the space.
“While many of the initiatives we have funded to date have been centered on rooftop solar and battery storage technology, ground-mounted solar schemes with private wire will also play a critical role in helping larger businesses to take advantage of all the benefits of distributed energy, with no upfront costs, going forward.”
Managing director at Dowling Energy, Oliver King, added: “This strategic partnership is perfect for a business like ours, which is working hard to do things differently. We are impressed with the speed and dynamism of AMPYR, as well as the team’s willingness to work with us on new concepts. As our aims are closely aligned, it’s a partnership that will work well for both businesses.”