AGP Sustainable Real Assets Pte Ltd. (AGP) and Hartree Partners LP have launched AMPYR Energy USA, the second joint venture between the two companies in just over a year.
AMPYR Energy USA, which will be headquartered in New York, is targeting to build a 5 GW utility-scale solar PV platform across multiple U.S. markets. The company will continue to leverage AGP’s experience in developing large-scale renewable power projects globally, and Hartree’s power trading analytics and zero-carbon solutions.
“With the federal and state goals for accelerating the energy transition, the U.S. will be one of the fastest growing solar markets in the world and a core strategic priority in realizing AMPYR’s ambition of becoming one of the largest independent renewables developer and operator globally,” says Saurabh Beniwal, partner at AGP and board chair for AMPYR USA.
Since its inception in February 2021, Hartree and AGP’s European solar venture, AMPYR Solar Europe (ASE), is making progress towards its goal of rolling out 5 GW of large-scale solar s in Europe. ASE also recently closed a €400 million facility to support this plan.
“We are excited to take another step forward with AGP into the US market,” states Stephen Semlitz, managing director of Hartree. “This new venture allows us to further demonstrate our decades of experience in finding investment solutions, consulting, and generating sustainable and commercially viable strategies for energy renewal and regeneration.”