AMPYR and Oakes Energy Form £50 Million Strategic Solar Partnership

Overview of the Partnership

AMPYR Distributed Energy, a key investor in onsite sustainable energy solutions, has announced a £50 million strategic partnership with Oakes Energy Services. This collaboration focuses on behind-the-meter ground-mounted solar energy projects, a significant step towards accelerating the transition to renewable energy for commercial and industrial sectors.

Key Focus Areas of the Partnership

Behind-the-Meter Solar Projects: The partnership will primarily target ground-mounted solar energy projects, ensuring businesses benefit from fully funded renewable energy solutions delivered by Oakes Energy.
Financial Commitment: AMPYR has committed £50 million to this venture, part of its broader strategy to invest over £300 million into renewable projects across the UK and Europe.

Strategic Alignment and Ambitions

Nik Smith, Director of Oakes Energy, highlighted that the partnership is crucial for Oakes Energy's expansion, aligning with AMPYR’s commitment to simplifying behind-the-meter energy solutions. Miles Thomas, Chief Commercial Officer at AMPYR, emphasized that Oakes Energy’s diversified renewable energy services portfolio aligns perfectly with AMPYR’s goals.

Background of AMPYR Distributed Energy

Launched by AGP, AMPYR Distributed Energy began with an initial capital commitment of up to £100 million. This partnership with Oakes Energy marks their third major agreement, following deals with Harvest Green Developments and Dowling Energy.

Previous Partnerships and Market Expansion

Harvest Green Developments: A £10 million framework agreement, which includes the sale of a 1.4MWp solar portfolio to AMPYR and long-term PPA financing for businesses.
Dowling Energy: A commitment of up to £40 million to launch 20MW of solar projects, funded through PPAs.

With partnerships like these, AMPYR is expanding into the ground-mounted solar market, beyond its previous focus on rooftop solar and battery energy storage.

Conclusion

The strategic partnership between AMPYR Distributed Energy and Oakes Energy Services highlights significant investment in the UK's renewable energy sector. This collaboration is set to expedite the deployment of behind-the-meter ground-mounted solar energy projects, aiding commercial and industrial customers in adopting sustainable energy practices.