[Frankfurt, September 3rd 2021] AMPYR Solar Europe (“ASE”) and Commerz Real’s KlimaVest signed a strategic co-operation agreement to develop, build and commission a pipeline of large-scale Solar PV projects in Germany.
As part of the agreement, AMPYR Solar Europe, will be responsible for developing the projects to Ready-To-Build (“RTB”) status, provide EPC Management services for the construction and commissioning of the plants, and put in place Operations & Maintenance (“O&M”) services for their operations, under KlimaVest’s ownership. The initial portfolio of three solar parks located in Germany will have a combined capacity of ca. 200 MWp.
Commenting on the announcement, ASE Executive Chairman Andrew Gould said: “This partnership perfectly exemplifies ASE’s mission to leverage its capability and experience in developing large-scale renewable power projects, to provide institutional investors attractive opportunities to deploy capital and generate stable, reliable, long-term income. We couldn’t be more proud partnering with Commerz Real to jointly contribute towards Germany’s ambitious renewable energy targets”.
“We are really happy about this partnership, from the start we had the feeling that there is a really good fit between ASE and Commerz Real. Hopefully this is the first PV pipeline of many, since it is a perfect example for an investment that really creates a positive impact and delivers long term stable returns, just as we promised to our investors in KlimaVest.” Jan-Peter Müller, Head of Infrastructure Investments at Commerz Real
About AMPYR Solar Europe
Headquartered in London and Maastricht, AMPYR Solar Europe was created through the merger of NaGa Solar with the existing AMPYR Energy UK solar joint venture between AGP Group and Hartree Partners, to create a major European Solar Enterprise with a combined pipeline of over 5GW of large-scale ground-mount and rooftop solar projects in the UK, Germany and the Netherlands. AMPYR Solar Europe brings together AGP’s experience in developing large-scale renewable power projects, Hartree’s cutting edge power trading analytics and zero carbon solutions with NaGa’s in-depth local knowledge and land development capability. Combining these complementary skills will speed up the build out of solar capacity and offers an attractive opportunity for institutional investors to deploy capital.
About Commerz Real
Commerz Real is a subsidiary of Commerzbank AG with almost 50 years of market experience and approximately 35 billion euros in assets under management. The company combines comprehensive know-how in asset management and extensive structuring expertise to deliver its signature range of services comprising real asset-oriented fund products and bespoke financing solutions.The funds include the open-ended real estate fund Hausinvest, Germany’s first retail impact fund for real assets Klimavest, institutional investment products, as well as entrepreneurial participations under the CFB Invest brand. Commerz Real has already been investing in infrastructure assets for more than 20 years, and in doing so has focused on the three areas transport and mobility, on-grid infrastructure, and energy generation. In total Commerz Real has successfully concluded more than 80 transactions across all three areas. With a transaction volume of about seven billion euros it is one of the largest German asset managers in this segment. The main focus of the transactions in recent years has been on the field of renewable energy. Here Commerz Real manages more than 50 solar power stations and – excluding the Klimavest portfolio – fourteen onshore and offshore wind farms. Their total installed capacity is more than 1 gigawatt, which according to the International Atomic Energy Organisation (IAEO) corresponds to the average output of a nuclear power station. www.commerzreal.com
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