AMPYR Distributed Energy, an investor in onsite sustainable energy solutions, has announced a partnership with Oakes Energy Services.
The £50 million strategic partnership will focus on an immediate portfolio of behind-the-meter ground-mounted solar energy projects delivered by Oakes. As a result of the agreement, the installer will deliver fully funded renewable energy projects for commercial and industrial customers as part of its ambitious growth plans.
Director of Oakes, Nik Smith, said the partnership would fast-track the company’s expansion and that AMPYR’s “commitment to simplifying behind-the-meter energy perfectly aligns with our portfolio of projects”.
Miles Thomas, chief commercial officer at AMPYR, said: “We expect to deploy more than £300m of capital into renewable projects across the UK and Europe. Our focus is on simplifying net zero for business customers through innovative and sustainable funding solutions.
“Oakes Energy Services has a diversified portfolio of renewable energy services that fully aligns with our ambition to remove barriers and make it easier to drive adoption of renewables.”
AMPYR Distributed Energy was launched by Singapore-headquartered AGP at the beginning of this year, with an initial capital commitment of up to £100 million.
This latest announcement marks the third recent agreement made by AMPYR, which last week inked a £10 million framework agreement with Harvest Green Developments and a commitment of up to £40 million for Dowling Energy’s solar pipeline.
The Harvest Green deal sees the two companies work together to provide long-term power purchase agreement (PPA) financing for businesses and included the sale of its 1.4MWp solar portfolio to AMPYR.
The Dowling Energy partnership is part of an effort to launch 20MW of solar projects, with ADE’s commitment funded through PPAs.
Both the partnerships with Dowling and Oakes represent AMPYR’s effort to move into the ground-mounted solar market, having previously focused on rooftop solar and battery energy storage.
