Toronto-based renewables developer Amp Energy has closed on a US$350 million credit facility to advance on a global portfolio of renewables and battery energy storage assets.
Amp Energy is to use the funding to focus initially on assets in the US, Australia and Japan which are at the construction stage, while projects in further markets will be added later.
Amp Energy also confirmed today that it energised four PV projects in Japan in Q4 2021. The projects, located in Mizunami, Nihonmatsu, Fujioka, and Shobusawa, have a combined capacity of 69.2MW.
The facility, which can be doubled in value to US$700 million through the use of structural features, has been provided by a consortium of institutional investors including Brookfield Asset Management and Nomura Securities.
Dave Rogers, CEO and president at Amp, said the financing would broaden the developer’s reach and allow it to “accelerate the decarbonization of flexible power generation infrastructure” across its core markets.
The deal is the latest in a recent string of financing packages secured by renewables developers with at least one eye on the US market, including funding arranged by the likes of 8minute Solar Energy, Silicon Ranch and Invenergy.