The newly formed joint venture combines AGP’s experience in developing large-scale renewable power projects globally and Hartree’s expertise in power trading analytics and zero-carbon solutions in a plan to roll out 5GW of large-scale solar projects across the US.
AGP Sustainable Real Assets and Hartree Partners announced the launch of Ampyr Energy USA, the second joint venture between the two organizations in just over a year. Ampyr Energy USA has a goal of building a 5GW utility-scale solar PV platform across multiple US markets.
The two partners formed Ampyr Solar Europe (ASE) two years ago with the goal of rolling out 5GW of large-scale solar projects, with aims to establish itself as one of the largest utility-scale solar platforms in Europe. Ampyr Energy has operations and assets in Europe, India, Australia, and specializes in renewable power, battery storage and other network and non-network solutions to customers. Hartree Partners is a global energy and commodities trading company, specialized in finding investment solutions, consulting, and generating sustainable and commercially viable strategies for energy renewal and regeneration. The company has a portfolio that includes midstream natural gas, oil assets, power generation, renewables, and environmental products.
The new venture, Ampyr Energy USA, headquartered in New York, combines AGP’s experience in developing large-scale renewable power projects globally, and Hartree’s expertise in power trading analytics and zero-carbon solutions and now has its eye on bringing that experience to what they perceive as a burgeoning market in the US.
“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.” Saurabh Beniwal, Partner at AGP and Board Chair for Ampyr USA.
Ampyr Solar Energy currently has numerous projects in the pipeline in Europe. For example, ASE partnered with Hartree and Naga Solar to develop 4GW of PPA-linked ground-mounted solar projects across the UK, Germany and the Netherlands. Leveraging Hartree’s expertise, the joint venture is expected offer different types of PPAs with the standard term being 10-12 years and smaller projects as short as five years. ASE is also building a 9MW solar-plus-storage project at the Edinburgh Airport with local construction partner Absolute Solar & Wind. The project will include 5MW of battery storage and 40 EV charging points, and the airport will purchase the power through a long-term power purchase agreement with ASE.
