Ampyr Solar Europe (ASE) has signed an agreement with KlimaVest, a subsidiary of German investment firm Commerz Real, to develop a pipeline of large-scale solar photovoltaic (PV) projects in Germany.
Under the terms of the agreement, the companies will also build and commission the projects.
The initial portfolio of three solar farms in Germany will have a combined capacity of almost 200MWp.
ASE will develop the solar assets to ready-to-build status while providing engineering, procurement and construction management services for their commissioning.
Operations and maintenance services will also be put in place for the plants’ operations under the ownership of KlimaVest.
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ASE executive chairman Andrew Gould said: “This partnership perfectly exemplifies ASE’s mission to leverage its capability and experience in developing large-scale renewable power projects, to provide institutional investors attractive opportunities to deploy capital and generate stable, reliable, long-term income.
“We couldn’t be more proud partnering with Commerz Real to jointly contribute towards Germany’s ambitious renewable energy targets”.
Commerz Real Infrastructure Investments head Jan-Peter Müller said: “We are really happy about this partnership [as] from the start, we had the feeling that there is a really good fit between ASE and Commerz Real.
“Hopefully, this is the first PV pipeline of many, since it is a perfect example for an investment that really creates a positive impact and delivers long term stable returns, just as we promised to our investors in KlimaVest.”
ASE was formed after a merger of NaGa Solar and AMPYR Energy UK, the latter being a joint venture of AGP Group and Hartree Partners.
The company has headquarters in London, UK, and Maastricht, Netherlands.
In February, Commerz Real acquired a 49.9% stake in a portfolio of 14 onshore wind farms in Germany owned by Energie Baden-Württemberg.
The wind farms feature 47 wind turbines and have 133MW of total generation capacity.