AMPYR Solar Europe (ASE) has partnered with Commerz Real’s impact real assets fund to develop solar projects in Germany.
ASE and Commerz Real’s KlimaVest have signed a strategic co-operation agreement to develop, build and commission a pipeline of large-scale solar photovoltaic (PV) projects.
As part of the agreement, ASE will be responsible for developing the projects to ready-to-build status, provide engineering, procurement and construction services for the construction and commissioning of the plants, and put in place operations and maintenance services for their operations, under KlimaVest’s ownership.
The partnership’s initial portfolio of three solar parks located in Germany will have a combined capacity of 200MWp, the companies said in a joint statement.
Andrew Gould, ASE’s executive chairman, said: “This partnership perfectly exemplifies ASE’s mission to leverage its capability and experience in developing large-scale renewable power projects, to provide institutional investors attractive opportunities to deploy capital and generate stable, reliable, long-term income.
“We couldn’t be more proud partnering with Commerz Real to jointly contribute towards Germany’s ambitious renewable energy targets.”
Jan-Peter Müller, the head of infrastructure investments at Commerz Real, said: “We are really happy about this partnership, from the start we had the feeling that there is a really good fit between ASE and Commerz Real.
“Hopefully this is the first PV pipeline of many, since it is a perfect example for an investment that really creates a positive impact and delivers long term stable returns, just as we promised to our investors in KlimaVest.”
To read the digital edition of the latest IPE Real Assets magazine click here.