AMPYR Solar Europe, a European solar project developer, secured financial closure for its 96 MW solar project in the municipality of Noordoostpolder in the Netherlands. The project is expected to be operational by mid-2025.
The project’s development will be financed through AMPYR Solar Europe’s €200 million (~$216.8 million) omnibus multi-project financing facility from Rabobank.
Osborne Clarke and Blaker McKenzie provided legal support to AMPYR Solar Europe, while Clifford Chance represented Rabobank on the transaction.
The solar project will span over 65 hectares of grassland and comprise four separate solar projects as a part of the NOP solar project. AMPYR Solar Europe is also responsible for designing and executing grid connections.
“With this project, AMPYR Solar Europe has created an energy landscape that integrates seamlessly with existing wind energy infrastructure. Through close coordination with other parties, we achieved a unique design that not only maximizes energy generation through solar PV but also minimizes the impact on the surrounding environment. This collaboration exemplifies the potential for creating integrated energy landscapes that have minimal impact on the environment but create lasting benefit to the local communities,” said Tarun Agrawal, CEO of AMPYR Solar Europe.
According to Mercom’s 9M and Q3 2024 Solar Funding and M&A report, large-scale project funding in the 9M 2024 totaled $34.3 billion in 180 deals, up from $27.5 billion in 169 deals in 9M 2023.
This week, Primergy Solar, a developer of distributed and utility-scale solar and battery storage projects, secured $350 million in tax equity financing for the 408 MWac Ash Creek solar project in Hill County, Texas. A Fortune 500 telecommunications company led the tax equity investment, with additional funding provided by Truist Bank.
