A consortium comprising funds managed by Fiera Infrastructure Inc. and Palisade Infrastructure Group has agreed to collectively purchase 100% of the fairness pursuits in Amp US Major Holdings Inc., a U.S.-based renewable vitality technology and battery storage enterprise.
Amp US develops, owns and operates of group photo voltaic and storage tasks. Since coming into the U.S. market in 2016, the corporate has skilled vital development, inserting the platform in a major place throughout the distributed technology market. With headquarters in Denver, the corporate has constructed a portfolio with technology capability of roughly 200 MW DC throughout 39 tasks. Moreover, the corporate has a big pipeline of photo voltaic and storage tasks anticipated to be developed and constructed throughout current and new U.S. markets.
Fiera Infrastructure and Palisade Infrastructure will proceed to assist the corporate’s long-term technique to develop, personal and function its rising portfolio and convey the monetary and financial advantages of photo voltaic technology and battery storage to native communities throughout the U.S., together with low-to-moderate revenue households and housing authorities. Moreover, the corporate’s current portfolio comprising working and under-construction tasks is anticipated to abate roughly 171,000 tons of CO2 yearly by 2024.
“We consider group photo voltaic is among the most tasty segments of the U.S. renewables market, and this funding permits us to leverage our sturdy current experience within the broader renewables sector,” says Mike Reynolds, managing director, Americas, of Palisade Infrastructure. “There may be rising subscriber demand and coverage assist nationwide for group photo voltaic packages, which gives sturdy tailwinds for Amp US to construct out its diversified venture pipeline throughout the nation.”
Fiera Infrastructure’s acquisition is being made on behalf of funds managed by Fiera Infrastructure. Palisade Infrastructure’s acquisition is being made on behalf of funds managed by Palisade Americas Administration LLC and its Australian-based affiliate Palisade Impression.
Macquarie Capital acted as monetary advisor and DLA Piper LLP US acted as authorized advisor to Fiera Infrastructure and Palisade Infrastructure on the transaction. KeyBanc Capital Markets acted as monetary advisor and Milbank as authorized advisor to Amp Vitality on the transaction.
The transaction is anticipated to shut in March.