Europe focused solar developer and independent power producer (IPP) AMPYR Solar Europe (ASE) has expanded its overall development pipeline to 6 GW after acquiring Netherlands based developer Solar Energy Works (SEW) and growing its Dutch development pipeline to over 1 GW.
The 6 GW aggregate development pipeline of ASE is also spread across geographies as Germany and the UK.
SEW comes to the ASE fold with its high potential asset pipeline of 100 MW of ready-to-build (RTB), 650 MW of under development assets and a 15-member team. SEW's Co-Founder Eric van der Gun expects the acquisition to help it bring Dutch solar assets to fruition.
For ASE, the transaction brings to it a portfolio of high-quality solar power generation assets across the Netherlands, a key market for the company.
"The acquisition of SEW complements our existing Dutch business very well and will help accelerate our long-term plans in terms of portfolio growth, talent addition, local presence and the renewable energy transition in general," said ASE Netherlands Managing Director Alexander Koeman.
A joint venture (JV) between Hartree Partners, AGP Sustainable Real Assets and NaGa Solar, ASE was launched in 2021 with a target to develop 4 GW solar across the UK, Netherlands and Germany. Over a year later, it was followed by Hartee and AGP launching a new JV called AMPYR Energy USA to build 5 GW solar across the US (see 5 GW Utility Scale US Solar Platform).
ASE CEO and AGP Partner Rajesh Gathala added that while it accelerates the company's plans to deploy significant capital in the solar sector in the near term, it will continue to look for strong asset pipelines and high-quality teams to become a market leading operator in the continent.