AMPYR Solar Europe, a pan-European solar developer and independent power producer, announced on Wednesday that it has secured €200M framework project loan from Rabobank, a Dutch banking and financial services company.
According to Rabobank, infrastructure and renewable energy industries are among its top priorities. Its global Renewable Energy Project Finance team is focused on advising, structuring, arranging, and underwriting complex project finance transactions.
By integrating its knowledge across the whole spectrum of finance and working closely with other disciplines within the bank, Project Finance adds value for the bank’s clients. Because of this, Rabobank is able to offer its clients the “best” services possible.
Dhruv Menon, AMPYR Solar Europe’s CFO, says, “It is very important for us to find a partner like Rabobank. We need a leading player in the project finance market who is also sensitive to the needs of the local communities taking part in the green energy transition.”
“Rabobank’s unique global-yet-local footprint has allowed us to provide bespoke partnership solutions to local communities and local energy corporations.”
Capital utilisation
With this funding, AMPYR Solar Europe says it will be able to build and manage 350 MWp of Solar PV assets across Europe. Three Solar PV assets in the Netherlands will be financed with the help of the facility, and more will be added later in the year.
Alexander Koeman, MD of AMPYR Solar Europe Netherlands, says, “Securing the financing facility enables AMPYR Solar Europe to start construction of the first set of Dutch Solar PV assets; this will help accelerate our long-term plans in terms of portfolio growth in particular and the renewable energy transition in general.”
The first three construction sites will be located in the Dutch towns of Echt-Susteren, Tinte, and Venray. The Commercial Operation Date for all three assets is anticipated to occur in Q1 2024, and construction activities are about to start.
Over 1 GWp worth of development projects are in the pipeline for AMPYR Solar Europe in the Netherlands, and over 6 GWp in total, including projects in Germany and the UK.
What does AMPYR Solar Europe offer?
AMPYR Solar Europe is a developer and operator of renewable energy assets, developing, investing and operating solar, wind and battery assets across the globe.
The firm’s platform benefits from a skilled sponsor group: AGP Sustainable Real Assets brings experience in setting up and running GW-scale renewable platforms, Hartree Partners offers power trading analytics and zero-carbon solutions, and NaGa Solar brings in-depth local knowledge and land development capability.
AMPYR Solar Europe is headquartered in London with offices in Maastricht, Utrecht, Frankfurt, and Berlin.
