Investment firms Fiera Infrastructure and Palisade Infrastructure Group have agreed to acquire 100% of the equity interests in Amp US Primary Holdings (Amp US) from Canadian company Amp Solar Group.
Based in Denver, Colorado, Amp US develops and operates community solar and storage projects.
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The company currently has a portfolio of 39 projects with around 200MWdc of combined capacity.
It also has a pipeline of solar and storage projects that are planned to be built across new and existing markets in the US.
The financial details of the deal have not been disclosed.
Amp Energy founder and CEO Dave Rogers said: “We are proud of the tremendous growth of the (Amp) US platform and the world-class team we have developed.
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By GlobalData“Palisade Infrastructure and Fiera Infrastructure are focused on the continued scaling of the business, and we look forward to them carrying on the mission to drive the energy transition forward with our high-growth fully integrated platform.
“We are excited to see the US team partner with Palisade Infrastructure and Fiera Infrastructure to continue to accelerate the core mission of building the top distributed generation platform in the US.”
The deal is expected to close next month if it meets customary closing conditions and receives regulatory approvals.
Fiera Infrastructure will acquire the stake on behalf of funds managed by Fiera Infrastructure, while Palisade Infrastructure will make the acquisition on behalf of funds managed by Palisade Americas Management and its Australian affiliate Palisade Impact.
Palisade Infrastructure Americas managing director Mike Reynolds said: “We believe community solar is one of the most attractive segments of the US renewables market and this investment allows us to leverage our strong existing expertise in the broader renewables sector.
“We are excited to invest in and support the management team and look forward to maintaining an ongoing relationship with the global Amp Energy platform.”
