Fiera Infrastructure, Palisade Infrastructure Group to Acquire RE Platform Amp United States

Feb 22, 2023 02:57 PM ET
  • Amp US has constructed a portfolio of about 200 MWdc across 39 operating or unfinished projects.
  • The transaction will certainly raise the Palisade Infrastructure Group's complete renewables capacity under management to over 1.8 GW.

A consortium comprising funds managed by Fiera Infrastructure, an affiliate of Fiera Capital Corporation, as well as Palisade Infrastructure Group has actually agreed to jointly acquire 100% of the equity passions in Amp United States Primary Holdings, the US-based renewable energy generation and battery storage business of the Amp Solar Group.

Amp US is a leading developer, proprietor and also driver people community solar and storage space projects. It has developed a portfolio of approximately 200 MWdc across 39 operating or unfinished projects. Additionally, the business has a big pipeline of solar and also storage projects anticipated to be developed as well as developed across existing and new United States markets.

The transaction is expected to close in March 2023, subject to traditional closing problems and governing approvals.

Fiera Infrastructure as well as Palisade Infrastructure will remain to support the Amp US lasting approach to create, own and operate the growing portfolio as well as bring the monetary and financial benefits of solar generation as well as battery storage space to local communities across.

The existing portfolio of Amp US comprising operating and also under-construction projects is anticipated to abate approximately 171,000 tonnes of CO2 each year by 2024.

Mike Reynolds, MD, Americas of Palisade Infrastructure, claimed, "There is growing subscriber need and policy support across the country for community solar programs, which gives strong tailwinds for Amp US to build out its varied project pipeline across the nation. We are excited to buy and support the management group and look forward to keeping a recurring partnership with the worldwide Amp Energy platform."

He claimed that the deal with Amp United States will raise the Palisade Infrastructure Group's total renewables capacity under management to over 1.8 GW and represents our 3rd North American investment.

Brooks Kaufman, Managing Director of Fiera Infrastructure, said, "Fiera Infrastructure is thrilled to announce its financial investment in Amp United States. We believe the business is well placed, with a strong management and also procedures team, to expand via range acquisitions as well as new development in an appealing as well as growing market with strong tailwinds."

Dave Rogers, Founder as well as Chief Executive Officer of Amp US, stated, "Palisade Infrastructure and also Fiera Infrastructure are focused on the ongoing scaling of business, and we look forward to them carrying on the mission to drive the energy change onward with our high-growth totally incorporated platform."

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