Fiera Infrastructure & Palisade Invest in US Solar & Energy Storage Platform

• Fiera Infrastructure and Palisade Infrastructure Group have agreed to jointly acquire 100% of the equity interests in Amp US Primary Holdings, a US-based renewable energy generation and battery storage business. This investment will increase the Palisade Infrastructure Group’s total renewables capacity under management to over 1.8 GW.

What happened?

A consortium comprising funds managed by Fiera Infrastructure, an affiliate of Fiera Capital Corporation, and Palisade Infrastructure Group have agreed to jointly acquire 100% of the equity interests in Amp US Primary Holdings, the US-based renewable energy generation and battery storage business of the Amp Solar Group. Amp US is a leading developer, owner and operator of US community solar and storage projects, and has built a portfolio of approximately 200 MWdc across 39 operating or under construction projects. Additionally, the company has a large pipeline of solar and storage projects expected to be developed and built across existing and new US markets. The transaction is expected to close in March 2023, subject to customary closing conditions and regulatory approvals. (Source: Solar Power World)

Why does it matter?

This transaction is important for both Fiera Infrastructure and Palisade Infrastructure Group, as it will increase their total renewables capacity under management to over 1.8 GW. It is also important for the US renewable energy sector, as Amp US has built a portfolio of about 200 MWdc across 39 operating or under construction projects, with a large pipeline of solar and storage projects expected to be developed and built across existing and new US markets. The existing portfolio of Amp US is expected to abate approximately 171,000 tonnes of CO2 annually by 2024, making a positive contribution to the environment.

What's next?

The transaction is expected to close in March 2023, subject to customary closing conditions and regulatory approvals. Once completed, Fiera Infrastructure and Palisade Infrastructure will continue to support the Amp US long-term strategy to develop, own and operate the growing portfolio and bring the financial and economic benefits of solar generation and battery storage to local communities across the US. With the increasing demand for community solar programs, the two companies are well-positioned to benefit from the growing sector and expand their investments.