www.wsfa.com Open in urlscan Pro
2a02:26f0:11a::6867:4832  Public Scan

Submitted URL: http://www.wsfa.com/prnewswire/2022/08/25/amp-energy-secures-tax-equity-debt-financing-155m-community-solar-plus-sto...
Effective URL: https://www.wsfa.com/prnewswire/2022/08/25/amp-energy-secures-tax-equity-debt-financing-155m-community-solar-plus-sto...
Submission: On February 07 via api from US — Scanned from DE

Form analysis 0 forms found in the DOM

Text Content

Skip to content
Advertise
Business Breaks
DEALS
Contests
Ask the Attorney
Sketch the Sky
Class Act
County Road 12
Alabama Weather Guide
Reelin' with Rosie
45°
Montgomery, AL
 * Watch Live
 * Latest Video
 * News
 * Weather
 * Sports
 * Coronavirus
 * TV
 * About Us


 * Home
    * Watch Live
    * Download Our Apps
    * Sign Up For Our Newsletters
    * Submit Photos & Video

 * News
    * Latest Video
    * Crime
    * Education
    * 12 News Defenders
    * Alabama Politics
    * Elections
    * Election Results
    * State
    * National
    * Consumer
    * Business

 * Weather
    * Weather Blog
    * Cameras
    * Closings
    * First Alert Stormtracker
    * What is a First Alert Weather Day?
    * Download the Severe Weather Magnet
    * Alabama Weather Guide
    * Radar
    * First Alert Weather Radio Partners
    * Programming your Weather Radio
    * Sketch the Sky

 * Sports
    * Reelin' With Rosie
    * College Sports
    * Biscuits
    * Friday Night Football Fever
    * Fever Athlete
    * Scoreboard
    * Sports Videos

 * Community
    * Ask the Attorney
    * Ask the Financial Expert
    * Class Act
    * County Road 12
    * Events Calendar
    * Fridays in the Kitchen
    * Alabama Live
    * The Rundown
    * Heart Gallery Alabama

 * Health
    * Coronavirus
    * Bridging the Great Health Divide

 * TV
    * Schedule

 * Latest Newscasts
 * About Us
    * Contact Us
    * Editorials
    * Jobs
    * Meet the Team
    * Advertise With Us

 * Contests
 * Gas Prices
 * Circle - Country Music & Lifestyle
 * PowerNation
 * Gray DC Bureau
 * Investigate TV
 * Press Releases








AMP ENERGY SECURES TAX EQUITY AND DEBT FINANCING FOR $155M COMMUNITY SOLAR PLUS
STORAGE PORTFOLIO IN REPEAT TRANSACTIONS WITH U.S. BANK AND KEYBANK

Published: Thu Aug 25 2022

DENVER, Aug. 25, 2022 /PRNewswire/ - Amp Energy, a global Energy Transition
Platform and renewable energy developer, today announced it has closed financing
on its 61 MW | 6.5 MWh solar plus storage portfolio in Massachusetts and New
York, valued at $155M. KeyBank led the construction and term debt, with U.S.
Bank investing the tax equity for the portfolio, in the fourth transaction
amongst the three parties since 2017.

Of the 13 projects that make up the portfolio, the majority will reach
commercial operation this year, with the balance occurring in Q2, 2023. Three of
the projects will incorporate DC-coupled energy storage and will be dispatched
by the Amp X optimization and management platform, allowing the assets to
autonomously optimize the battery output to maximize their fixed SMART program
revenues, while participating in the ISO New England wholesale markets.

The integrated designs with DC-coupled energy storage, bifacial modules, along
with proprietary optimization and design, once again highlights Amp's emerging
position as a leader in advanced technology.

"This latest round of financing into community solar transactions pushes Amp's
total tax equity and debt raised past $500M over the last few years in the US
community solar market," said Jared Donald, EVP and Head of Amp's US Operations.
"We're pleased to have once again attracted top tier institutional financing
with KeyBank and U.S. Bank, which speaks to their deep understanding of the
market as well as the knowledge and diverse skillset of the Amp team."

"Community solar makes the benefits of a less expensive, cleaner energy option
accessible to those unable to install panels on their rooftop, and we're proud
to support Amp's expansion in Massachusetts and New York," said Justin Baker,
vice president with U.S. Bancorp Community Development Corporation's
Environmental Finance team. "Being responsible stewards of the environment is
important to U.S. Bank and we're committed to continued investments in solar."

We're excited to continue our partnership with Amp and grow community solar in
Massachusetts and New York," said Tyler Nielsen, Director in KeyBanc Capital
Markets' Utilities, Power & Renewable Energy Group, "Providing financing to
optimize solar and storage also builds on the success of KeyBank's National
Community Benefits Plan which focuses on investments in affordable housing,
mortgage and small business lending, and renewable energy."

This strategic portfolio of solar plus storage assets continues Amp's investment
in the New York and Massachusetts community solar markets, creating jobs and
supporting economic development while also responding to growing consumer demand
for clean, renewable power generation.

Amp's long-term ownership and operation of its projects places a high priority
on working together with landowners, towns and other local stakeholders to
ensure a valuable, long-term partnership in the fight against climate change.

The US operations of Amp, formed in 2016 and headquartered in Denver, Colorado,
saw its real assets business surpass 200 MW of operating and in-construction
assets this year, with a further 500 MW to be built over the coming 2-3 years.


About Amp


Amp is a global energy transition platform.

We develop, own and operate clean energy assets throughout our core markets
around the world. Alongside Amp X, our disruptive grid-edge technology platform
utilizing proprietary artificial intelligence expertise, we are reimagining the
grid and leading the Energy Transition. The company is headquartered in Toronto
with global operations throughout North America, the UK, Australia, Japan, Spain
and Czech Republic.

Founded in 2009, Amp is a high-growth disruptor at scale, backed by major
investments from institutional capital partners including most recently Carlyle,
which invested US$374 million for a minority stake in the company in late 2020.

View original content:

HTTPS://WWW.PRNEWSWIRE.COM/NEWS-RELEASES/AMP-ENERGY-SECURES-TAX-EQUITY-AND-DEBT-FINANCING-FOR-155M-COMMUNITY-SOLAR-PLUS-STORAGE-PORTFOLIO-IN-REPEAT-TRANSACTIONS-WITH-US-BANK-AND-KEYBANK-301612024.HTML

SOURCE Amp Energy

The above press release was provided courtesy of PRNewswire. The views, opinions
and statements in the press release are not endorsed by Gray Media Group nor do
they necessarily state or reflect those of Gray Media Group, Inc.



News
Weather
Sports
Contact Us
 * WSFA
 * 445 Dexter Avenue
 * Suite 7000
 * Montgomery, AL 36104
 * (334) 288-1212

Terms of Service
Privacy Policy
Public Inspection File
publicfile@wsfa.com - 334-613-8256
EEO Report
Closed Captioning/Audio Description
WSFA Careers
Advertising

A Gray Media Group, Inc. Station - © 2002-2023 Gray Television, Inc.


search by queryly Advanced Search