Frankfurt am Main (renewable press) – AMPYR Solar Europe, a prominent solar developer and independent power producer (IPP) operating across Europe, has successfully concluded a €200 million framework project finance facility in collaboration with Rabobank. This milestone enables AMPYR Solar Europe to initiate the construction and operation of 350 MWp of solar photovoltaic (PV) assets throughout Europe. Immediate utilization of the facility will support the financing of three Solar PV projects in the Netherlands, with additional projects planned for later this year. The debt package was secured with the assistance of Capcora, a German financial advisory boutique.
This financing facility marks a notable advancement in AMPYR Solar Europe’s ambition to establish itself as a leading independent power producer (IPP) in Europe. It empowers the company to commence the construction of its initial solar photovoltaic (PV) assets in the Netherlands, a significant milestone since its establishment in 2021. The facility provides the flexibility to project finance solar farms throughout Europe, with a particular focus on AMPYR Solar Europe’s core operations in Germany and the Netherlands.
Dhruv Menon, Chief Financial Officer of AMPYR Solar Europe, expressed the significance of securing Rabobank as a partner, emphasizing the need for a prominent player in the project finance market who also understands the importance of local communities in the green energy transition. Rabobank’s distinctive global-local presence enables tailored partnership solutions for local communities and energy corporations, aligning with AMPYR Solar Europe’s commitment to fostering sustainable local collaborations.
Alexander Koeman, Managing Director of AMPYR Solar Europe Netherlands, highlighted the significance of securing the financing facility, as it empowers the company to commence the construction of the initial set of solar photovoltaic (PV) assets in the Netherlands. This milestone plays a pivotal role in accelerating AMPYR Solar Europe’s long-term portfolio growth plans and contributes to the broader transition towards renewable energy.
AMPYR Solar Europe has identified the communities of Echt-Susteren, Tinte, and Venray in the Netherlands as the locations for its initial three solar PV sites. Construction activities are scheduled to commence soon, and the Commercial Operation Date (COD) for all three assets is anticipated to be achieved by the first quarter of 2024.
Pieter Plantinga, Executive Director of Project Finance at Rabobank, who represented the bank throughout the process, described the collaborative and innovative nature of the structuring effort with AMPYR Solar Europe. The financing arrangement empowers AMPYR Solar Europe to develop a portfolio comprising fully owned projects as well as projects involving community participation. This aligns with Rabobank’s aspirations, as it allows local communities to actively contribute to driving the energy transition while fostering their own stake in the process.
AMPYR Solar Europe received legal support from Osborne Clarke, a prominent law firm, while Clifford Chance represented Rabobank during the process.
Alongside the assets currently being constructed, AMPYR Solar Europe boasts a development pipeline exceeding 1 GWp in the Netherlands, with an aggregate pipeline of over 6 GWp, encompassing Germany and the UK as well.
