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| 22.03.22
AGP Sustainable Real Assets and Hartree Partners Announce US Expansion of Global Solar Partnership
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[New York, 22nd March 2022] AGP Sustainable Real Assets Pte Ltd (AGP) and Hartree Partners, LP (Hartree) today announce the launch of AMPYR Energy USA, the second joint venture between the two organizations in just over a year. AMPYR Energy USA will be headquartered in New York and is targeting to build a 5GW utility-scale solar PV platform across multiple US markets. With experienced renewables development professionals on the ground, the newly-created company will continue to leverage AGP’s experience in developing large-scale renewable power projects globally, and Hartree’s cutting-edge power trading analytics and zero-carbon solutions. “With the Federal and State goals for accelerating the energy transition, the US will be one of the fastest growing solar markets in the world and a core strategic priority in realizing AMPYR’s ambition of becoming one of the largest independent renewables developer and operator globally,” said Saurabh Beniwal, Partner at AGP and Board Chair for AMPYR USA. Since its inception in February 2021, Hartree and AGP’s European solar venture, AMPYR Solar Europe (ASE), is making swift progress towards its goal of rolling out 5GW of large-scale solar projects to establish itself as one of the largest utility scale solar platforms in Europe. ASE also recently closed a €400 million facility to support this plan. Following in the footsteps of ASE, expectations are equally high for AMPYR USA. “We are excited to take another step forward with AGP into the US market,” said Stephen Semlitz, Managing Director of Hartree. “This new venture allows us to further demonstrate our decades of experience in finding investment solutions, consulting, and generating sustainable and commercially viable strategies for energy renewal and regeneration.” To learn more about the new US venture visit: www.ampyrenergyusa.com About AGP and AMPYR Energy Headquartered in Singapore, AGP Sustainable Real Assets (“AGP”) is an asset development and investment management group, investing in, developing and operating sustainable infrastructure. AGP established AMPYR Energy, its global renewable energy platform, to power the future and respond to the rapid changes in the energy sector worldwide. With operations and assets in Europe, India, Australia, and the USA, AMPYR Energy provides low-cost renewable power, battery storage and other network and non-network solutions to customers. For more info visit: www.agpgroup.com and www.ampyrenergy.com About Hartree Partners Hartree Partners is a global energy and commodities trading company, with decades of experience in the physical and financial energy and commodities markets. Hartree is at the forefront of finding investment solutions, consulting, and generating sustainable and commercially viable strategies for energy renewal and regeneration. The company has an extensive portfolio including midstream natural gas, oil assets, power generation, renewables, and environmental products. Hartree’s rigorous research, analytical approach, and entrepreneurial culture have contributed to its strong track record and growth. For more info visit: www.hartreepartners.com   [sz-button title="Download Press Release" url="https://www.ampyrenergy.com/app/uploads/2022/03/AMPYR-Energy-USA-Pres"]
| 16.02.22
AMPYR Solar Europe secures €400 million from CarVal Investors to develop and construct pipeline of European Solar Assets
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[London, 16 February 2022] AMPYR Solar Europe LP (“ASE”), a pan-European solar IPP established by AGP Sustainable Real Assets, Hartree Partners and NaGa Solar, today announced the closing of a € 400 million facility with CarVal Investors to support ASE’s plans to bring over 2GW of solar power capacity into operation by 2025. “One year after its inception, we couldn’t be more proud to have reached this key milestone in ASE’s journey to become a leading European solar IPP,” said Andrew Gould, Executive Chairman of ASE. “With the support of CarVal as our capital partner, we are on a steady path to turn our fast-progressing pipeline into a portfolio of large-scale solar power producing assets, that will contribute meaningfully to Europe’s energy transition.” CarVal has made available an initial tranche of € 250 million as well as a further incremental tranche of € 150 million. This facility will predominantly cover the construction costs of solar assets as well as providing some  development capital and operational expenses. The initial focus will be on sites in Germany, Netherlands, and the UK with the facility having the potential to extend to other European jurisdictions as well as allowing for funding of energy storage projects. “We are excited to have ASE as one of our partners as we expand our footprint in the rapidly evolving clean energy transition,” said Jonathan Hunt, Managing Director at CarVal Investors. “We view the breadth of skills and track record of the team as market leading and look forward to funding their growth. The capital-intensive nature of the clean energy transition means that partnerships like this remain one of the largest opportunity sets for CarVal.” ASE expects to break ground on its first projects in the second quarter of this year and be operational by the end of the year. By 2025, once fully deployed, the generating portfolio is expected to be among some of the largest utility scale solar platforms in Northern Europe. “This transaction is yet another testament to the increasing investor engagement on the climate crisis, which cannot be resolved without massive private capital contribution,” said Elmahdi Tahri, AGP Partner and Global CIO of AMPYR Energy. “We are pleased to partner with CarVal Investors to help accelerate the transition to a zero-carbon Europe, and look forward to replicating this model across AMPYR Energy’s renewable platforms globally.” The recent gas crisis in Europe has highlighted the urgent need for more renewable energy sources to reduce the continent’s dependency on gas and other fossil fuel sources. This initial 2GW development forms a significant part of ASE’s overall ambition to roll out 5GW of large-scale solar projects in Northwest Europe. “Volatile and competitive power markets increasingly require solar developers to optimise between long-term power purchasers, the grid and storage assets,” said Abraham Kozhipatt, Partner and Co-Head of Renewable Infrastructure Assets at Hartree Partners. “ASE combines the partners’ strengths in asset development and merchant market risk management and we are delighted that CarVal recognise and support our strategy.” Akereos Capital acted as sole bookrunner, structurer and exclusive debt advisor to AMPYR that was also advised by Reed Smith (legal). CarVal was advised by Norton Rose Fulbright (legal), ARUP (technical) and Baringa Partners (commercial). [sz-button title="download press release" url="https://www.ampyrenergy.com/app/uploads/2022/02/ASE-CarVal-Press-Release.pdf"]
| 03.09.21
AMPYR Solar Europe Announces It Has Entered into a Strategic Partnership with Commerz Real’s KlimaVest for the Development of a Pipeline of Large-Scale Solar PV Assets in Germany
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[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 [sz-button title="DOWNLOAD PRESS RELEASE" url="https://www.agpgroup.com/app/uploads/2021/09/Press-Release-030921-AMPYR-Solar-EU-enters-into-Strategic-Partnership-w-Commerz-Real.pdf"]

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