Hartree Partners, AGP Group and NaGa Solar have formed a new JV to develop at least 4GW of solar projects across the UK, the Netherlands and Germany.
AMPYR Solar Europe (ASE) brings together AGP’s experience in developing large-scale renewable power projects, Hartree’s power trading analytics and zero carbon solutions and NaGa’s in-depth local knowledge and land development prowess.
Combining these complementary skills is expected to speed up the build out of solar capacity.
It also offers an attractive opportunity for institutional investors to deploy in excess of €1bn of capital and that could generate a reliable, long-term income.
Hartree founding partner Stephen Hendel said: "We’re really excited to be working with AGP and NaGa on this entrepreneurial joint venture.
"The scale of the proposed development represents a major addition to Europe’s solar capacity and offers institutional infrastructure investors the opportunity to benefit from the diverse skill sets ASE brings together."
ASE will build on AMPYR Energy UK, Hartree’s existing partnership with AGP, which is developing 1.5GW of onshore wind, solar PV and associated battery storage in the UK.
The UK operation will combine its solar assets with those under development in the Netherlands and Germany through NaGa.
AGP founding partner Rajpal Singh Chaudhary added: "In Asia Pacific, our team developed one of the region’s largest renewable platforms for institutional investors, and delivered over 3GWs of renewable projects.
"This experience and track record, gives us every confidence in our capacity to make this ambitious European venture a great success.
"We are excited to broaden our footprint from our Asian roots into Europe."
NaGa chief executive Henny Pelsers added: "To continue to generate strong consistent returns from solar, we believe investors must deploy capital earlier in the development process as well as embrace new technologies such as batteries and hydrogen.
"Partnering with AGP and Hartree allows us to accelerate the speed and expand the number of sites we could have developed on our own and will provide the quick deployment of capital necessary to build a large portfolio of attractive solar investment opportunities.”
