Ampyr Solar Europe's 390MW UK Solar-Storage Takeover
- Ampyr Solar Europe acquires a 390MW UK solar-storage portfolio, with five projects located in Somerset, Worcestershire, County Durham and Moray, Scotland. With 1.8GW in total, Ampyr Solar Europe and Tyler Hill are committed to delivering high-quality projects that are cost-effective and support local community development.
Ampyr Solar Europe has acquired a 390MW UK solar-storage portfolio from Tyler Hill. The five projects are grid secured and in the process of being submitted for planning approval, with construction expected to begin in 2024. Alongside the development of the assets, Ampyr Solar Europe’s in-house power purchase agreement (PPA) team will source long-term power offtakers for the renewable power produced. The projects are located in Somerset, Worcestershire, County Durham and Moray, Scotland. Burges Salmon provided legal assistance to Ampyr Solar Europe on the deal. Following this acquisition the company now has a development pipeline of over 1.8GW in the UK. In a joint statement, Matthew van Staden from Ampyr Solar Europe and Ravishankar Tumuluri from Tyler Hill described their commitment to delivering high-quality projects that are cost-effective and delivered in a timely manner, while supporting local community development schemes.
What Benefits Does Ampyr Solar Europe's Acquisition Bring?
- Increased access to renewable energy: Ampyr Solar Europe has acquired the 390MW UK solar-storage portfolio, which will help increase access to renewable energy across the UK.
- Job creation: The acquisition of the UK solar-storage portfolio is expected to create jobs in the areas of construction, engineering and project management.
- Economic development: The projects are located in Somerset, Worcestershire, County Durham and Moray, Scotland, and will bring economic development to these areas.
- Environmentally friendly: The projects will deliver clean and renewable energy to the UK, reducing emissions and helping to fight climate change.
- Long-term power offtakers: Ampyr Solar Europe’s in-house power purchase agreement (PPA) team will source long-term power offtakers for the renewable power produced, ensuring the sustainability of the projects.
- Community development: Ampyr Solar Europe and Tyler Hill have committed to delivering projects that are cost-effective and delivered in a timely manner, while also supporting local community development schemes.
