Ampyr Solar Europe has completed the acquisition of a 390MW solar-storage portfolio in the UK from Tyler Hill.
The portfolio consists of five projects that have already secured grid connections and are currently undergoing the process of obtaining planning approval.
Ampyr Solar Europe plans to collaborate with Tyler Hill to develop the assets until they reach the “ready-to-build” stage, with construction scheduled to commence in 2024.
Furthermore, Ampyr Solar Europe’s in-house power purchase agreement team will work on securing long-term buyers for the renewable energy generated by these projects.
The projects are situated in Somerset, Worcestershire, and County Durham, as well as a Nationally Significant Infrastructure Project located in Moray, Scotland.
Matthew van Staden, Ampyr Solar Europe’s commercial lead on the deal, 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.”
Ravishankar Tumuluri, Founder and chairman of Tyler Hill, 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.”
Burges Salmon, a law firm, supported Ampyr Solar Europe in the legal aspects of the transaction.
With the completion of this acquisition, Ampyr Solar Europe’s development pipeline in the UK will exceed 1.8GW.