Joint Venture since 2021
The creation of Ampyr Solar Europe
NaGa Solar is very pleased to announce that we have entered into a joint venture with AGP Group and Hartree Partners (owned by its managing partners, senior staff and Oaktree Capital). The joint venture is called “AMPYR Solar Europe” (ASE) and will operate in England, the Netherlands and Germany. The intention is also to add countries such as Spain and Ireland to the portfolio.
The joint venture brings together AGP’s expertise in large-scale renewable energy development, Hartree’s expertise in subsidy-free project financing through power purchase agreements and NaGa’s expertise in development and communal relationships.
AMPYR Solar Europe will build on AMPYR Energy UK, Hartree’s existing partnership with AGP, which is developing 1.5 GW of onshore wind, solar PV and associated battery storage in the UK. The UK facility will combine its solar energy sources with those under development in the Netherlands and Germany through NaGa.
What does this mean for our existing relationships? As NaGa Solar, we remain responsible for Dutch and German development projects and we can continue our activities in development processes more strongly. An important difference is that we no longer only act as a developer for other investors, but that we now also own the majority of our projects and therefore finance them ourselves! This makes us one of the few Dutch investors in large-scale ground-based solar projects, able to continue to develop successful projects even in a subsidy-free era.