NaGa Solar, AGP and Hartree Partners join the AMPYR Solar Europe (ASE) joint venture. This company owns a pipeline with a peak of 4 gigawatts of solar collectors in the Netherlands, Germany and the United Kingdom.
The joint venture will provide institutional investors the opportunity to invest more than 1 billion euros in capital for solar energy.
Within AMPYR Solar Europe, NaGa Solar contributes its local knowledge and land development, its AGP experience in developing large-scale renewable energy projects and Hartree’s advanced analysis of the energy trade.
Combining these experiences will accelerate solar capacity building, according to the three companies. “We are very excited to partner with AGP and NaGa on this pioneering joint venture,” said Stephen Hendel, co-founder of Hartree. “The scale of the proposed development will significantly complement the solar energy capacity in Europe and allow institutional investors in infrastructure to take advantage of the diverse skills that the Amman Stock Exchange brings.”
In the Asia Pacific region, our team has developed one of the largest sustainable platforms for institutional investors in the region and delivered more than 3 gigawatts of renewable energy projects. “This experience and track record give us all confidence in our ability to achieve great success for this ambitious European company,” said Rajpal Singh Choudhury, founder of AGP. “We are happy to increase our footprint from our Asian roots to Europe.”
Batteries and hydrogen
According to stakeholders, the reduction in government support makes it more difficult to find suitable sites for developing sustainable energy projects. “In order to continue to generate strong and consistent returns from solar energy, we believe that investors should invest capital early in the development process and adopt new technologies such as batteries and hydrogen,” said Henny Pelsers, CEO of NaGa Solar. By partnering with AGP and Hartree, we will be able to increase the speed and expand the number of sites that we could have developed ourselves and provide the rapid deployment of capital needed to build a sizeable portfolio of attractive solar investment opportunities.