- The new joint venture is called AMPYR Energy USA and will be headquartered in New York.
- It will leverage the experience of AGP that has developed large scale RE projects across the world and also harness the power trading analytics of Hartree.
AGP Sustainable Real Assets has formed a joint venture (JV) with Hartree Partners to develop 5GW of utility-scale solar projects across the US.
The new joint venture is named AMPYR Energy USA and will be headquartered in New York. The new entity will leverage the experience of AGP that has developed large scale RE projects across the world and also harness the power trading analytics of Hartree, said an official statement.
AGP partner and AMPYR board chairperson Saurabh Beniwal said, “With the Federal and State goals for accelerating the energy transition, the US will be one of the fastest growing solar markets in the world and a core strategic priority in realising AMPYR’s ambition of becoming one of the largest independent renewables developer and operator globally.”
Stephen Semlitz, Managing Director, Hartree, said, “We are excited to take another step forward with AGP into the US market. 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.”
AMPYR Energy USA is the second joint venture between the two companies. AGP and Hartree had formed AMPYR Solar Europe about two years ago with the objective of rolling out 5GW large scale solar power projects in Europe. To support this massive goal, AMPYR Solar Europe recently closed a €400 million facility. The company also announced plans to develop 4GW of ground-mounted solar power projects in Germany, the Netherlands and the United Kingdom.
AMPYR Energy has been dealing in the segments of renewable power, battery storage and other network and non-network solutions. It has operations and assets in Europe, India and Australia.
Hartree Partners is a company that delves in energy and commodities trading globally. It has expertise in finding investment solutions, consulting, and generating sustainable and commercially viable strategies in a portfolio that includes midstream natural gas, oil assets, power generation, renewables and environmental products.