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. Ampyr Solar Europe will develop the assets in partnership with Tyler Hill through to “ready-to-build” status and will begin construction in 2024. In parallel, Ampyr Solar Europe’s in-house power purchase agreement (PPA) team will source long-term power offtakers for the renewable power produced by these projects.
The projects are located in Somerset, Worcestershire and County Durham, in addition to a Nationally Significant Infrastructure Project in Moray, Scotland.Ampyr Solar Europe’s commercial lead on the deal Matthew van Staden said: “We are thrilled to be working with Tyler Hill on this transaction. “We are confident that our partnership will deliver high-quality, cost-effective solar projects that are delivered in a timely manner. “This will be especially important to PPA offtakers who need price and delivery certainty to meet their sustainability goals. “The Commercial Team at ASE is in a number of PPA discussions with UK offtakers and will be expanding discussions with additional counterparties in relation to these new projects now added to the portfolio.” Founder and chairman of Tyler Hill Ravishankar Tumuluri added: “With a constructive engagement with the local communities, the Ampyr-Tyler Hill partnership will deliver projects that contribute to UK’s net zero goals, while supporting local community development schemes.” Law firm Burges Salmon provided legal assistance to Ampyr Solar Europe on the deal. Following this acquisition the company will have a development pipeline of over 1.8GW in the UK.
Credits: renews.biz [Image: Unplash/Sungrow]