New European RES platform to invest €1bn investments
AMPYR Solar Europe (ASE), a newly launched renewable energy platform is planning to invest more than a billion euros in European projects.
Αn “attractive opportunity" for institutional investors who wish to deploy capital.
ASE, created by Hartree Partners, AGP Group and NaGa Solar, expects to develop at least 4GW of solar projects across the UK, the Netherlands and Germany.
Oaktree-backed commodities trading house Hartree said the venture offers an “attractive opportunity for institutional investors to deploy in excess of €1bn of capital and generate a reliable, long-term income”.
Stephen Hendel, a founding partner at Hartree Partners, said: “The scale of the proposed development represents a major addition to Europe’s solar capacity and offers institutional infrastructure investors the opportunity to benefit from the diverse skill sets ASE brings together.”
AGP founding partner Rajpal Singh Chaudhary said: “In Asia Pacific, our team developed one of the region’s largest renewable platforms for institutional investors, and delivered over 3GWs of renewable projects.
“This experience and track record gives us every confidence in our capacity to make this ambitious European venture a great success. We are excited to broaden our footprint from our Asian roots into Europe.”
Henny Pelsers, CEO of NaGa, said: “Partnering with AGP and Hartree allows us to accelerate the speed and expand the number of sites we could have developed on our own and will provide the quick deployment of capital necessary to build a large portfolio of attractive solar investment opportunities.”