AMPYR Solar Europe is pleased to announce the acquisition of a 390 MWp Solar PV + BESS portfolio from Tyler Hill comprising sites across the UK.
The five projects are grid secured and are in the process of being submitted for planning approval. AMPYR Solar Europe will develop the assets in partnership with Tyler Hill through to “ready-to-build” status, and begin construction in 2024. In parallel, AMPYR Solar Europe’s in-house Power Purchase Agreement (PPA) team will source long-term power offtakers for the renewable power produced by these projects. The projects are located in Somerset, Worcestershire and County Durham, in addition to a Nationally Significant Infrastructure Project (NSIP) in Moray, Scotland.
Matthew van Staden, AMPYR Solar Europe’s commercial lead on this deal, said: “We are thrilled to be working with Tyler Hill on this transaction. We are confident that our partnership will deliver high quality, cost-effective solar projects that are delivered in a timely manner. This will be especially important to PPA offtakers who need price and delivery certainty to meet their sustainability goals. The Commercial Team at ASE is in a number of PPA discussions with UK offtakers and will be expanding discussions with additional counterparties in relation to these new projects now added to the portfolio.”
Ravishankar Tumuluri, Founder and Chairman of Tyler Hill commented: “We look forward to working closely with AMPYR Solar Europe to ensure the highest quality of HSE standards in our projects. With a constructive engagement with the local communities, the AMPYR-Tyler Hill partnership will deliver projects that contribute to UK’s Net Zero goals, while supporting local community development schemes.”
For AMPYR Solar Europe, this significantly bolsters the company’s presence as a major player within the UK solar market and represents a clear step forward in its ambition to become one of Europe’s leading Independent Power Producers (IPP).
Tarun Agrawal, AMPYR Solar Europe’s co-CEO noted: “This acquisition establishes a strengthening of our solar PV asset footprint in the UK and is a reflection of our ambition to accelerate AMPYR Solar Europe’s path to becoming a leading European IPP with world class assets in the UK, Germany and the Netherlands.”
Law firm Burges Salmon provided legal assistance to AMPYR Solar Europe on the deal.
Following this acquisition, AMPYR Solar Europe will have a development pipeline of over 1.8 GWp in the UK, and an aggregate pipeline of close to 7 GWp including Germany and the Netherlands.
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