Prospect14 launches US solar JV with 10GW development target

A solar PV project in the US state of Virginia. Image: Savion.

Renewables developer Prospect14 has partnered with a group of investors to launch a joint venture (JV) that will develop, build and operate utility-scale PV and solar-plus-storage projects in the US.

Dubbed Ampliform and backed by a “significant equity commitment” from a consortium of investors, the JV aims to develop more than 10GW of solar projects in North America by 2025, according to Prospect14.

Ampliform is being launched with more than 3GW of early- and mid-stage projects under development, the first of which are expected to begin construction in 2023.

Among its investors is Greens Ledge Renewable Partners. Brad Romine, partner at the firm, said: “We are developing our projects with the intent to own and operate them efficiently, so we begin projects with the end in mind and implement creative, data-driven approaches to optimising plant design, development and construction.”

A team from Pennsylvania-headquartered Prospect14 will carry out greenfield origination, development and construction services for Ampliform.

Having originated more than 5GW of PV and solar-plus-storage projects to date, Prospect14 sold a portfolio of around 1GWdc of assets in Virginia and Pennsylvania last year.

Other solar developers of note launched this year include Starlight, a division of PV investor and asset manager NextEnergy Group, and AMPYR Energy USA, a JV from asset management group AGP Sustainable Real Assets and energy trading company Hartree Partners.

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