350 MWp PV Portfolio: AMPYR And Rabobank Agree on Financing Package - Capcora Supports
Frankfurt am Main, Germany - AMPYR Solar Europe has successfully concluded a 200 million euro (€m) framework project financing facility with Rabobank.
For AMPYR, the deal represents an important milestone in achieving the company's goal of becoming one of the leading European IPPs.
The facility will be drawn immediately to finance three PV plants in the Netherlands, with more to follow later in 2023. The locations of the first three projects to be built are in the municipalities of Echt-Susteren, Tinte and Venray in the Netherlands. Construction is expected to begin shortly, with commercial operation date (COD) for all three assets expected in the first quarter of 2024.
"It is very important for us to find a partner like Rabobank. We need a leading player in the project finance market who is also sensitive to the needs of the local communities taking part in the green energy transition", said AMPYR Solar Europe Chief Financial Officer Dhruv Menon, welcoming the deal. Rabobank's unique global yet local footprint has enabled AMPYR to offer tailored partnership solutions for local communities and local energy companies, Menon added.
AMPYR Solar Europe was assisted in securing the financial package by Frankfurt-based consulting firm Capcora. Law firm Osborne Clarke provided legal support to AMPYR Solar Europe, while Rabobank was represented by Clifford Chance in this regard.
In addition to the assets under construction, AMPYR Solar Europe has a development pipeline of over 1,000 MWp (1 GWp) in the Netherlands and a total pipeline of over 6,000 MWp (6 GWp) including projects in Germany and the UK.
Source: IWR Online, 14 Jun 2023
