Toronto-based renewables developer Amp Power has closed on a US$155 million tax fairness and debt financing spherical for its solar-plus-storage portfolio within the US.
The neighborhood photo voltaic portfolio includes of 13 tasks situated within the states of Massachusetts and New York with a capability of 65MW of photo voltaic PV and 6.5MWh of power storage. Many of the tasks will attain business operation this yr, with the remaining set to achieve throughout Q2 2023.
Three of the tasks will use bifacial modules coupled with power storage and can be dispatched with the Amp X optimisation and administration platform, which is able to permit it to robotically optimise the battery’s output.
KeyBank led the development and time period debt, with US Financial institution investing the tax fairness for the portfolio. This was the fourth transaction between the three events since 2017.
This newest spherical brings the renewables developer’s financing into US neighborhood photo voltaic to over US$500 million, stated Jared Donald, EVP and head of Amp’s US operations.
Its US portfolio has to date reached 200MW of working and in-construction belongings this yr, with an extra 500MW to be constructed within the subsequent two to 3 years.
Early this yr, Amp Power closed a US$350 million credit score facility to speed up its international portfolio of renewables and battery storage belongings with a main give attention to the US, Australian and Japanese markets.