European solar company AMPYR Solar Europe (ASE) has secured a €400 million investment from Car Val Investors to bring more than 2GW of solar power capacity into operation in Europe by 2025. To support ASE's plans, CarVal provided an initial payment of EUR 250 million and incremental payments of EUR 150 million. The facility will cover the construction costs of the solar asset, as well as development capital and operating expenses.

Jonathan Hunt, managing director of CarVal Investors, said: “We are delighted to have ASE as one of our partners as we expand our footprint in the fast-moving clean energy transition. “We appreciate the team’s breadth of skills and track record. Records are market leading and look forward to funding their development. "The capital-intensive nature of the clean energy transition means that partnerships like this remain CarVal's greatest opportunity."

ASE will initially focus on developing sites in the Netherlands, Germany and the UK. The company also plans to develop solar sites in other European regions and fund energy storage projects. ASE intends to break ground for the first solar project in the second quarter of 2022 and bring it online by the end of the year. ASE Executive Chairman Andrew Gould said: "One year after ASE was established, we are very proud to have reached this key milestone in ASE's journey to become Europe's leading solar IPP. Keywords: Engineering News, Engineering Construction

“As our capital partner at CarVal, we are steadily transforming our fast-growing pipeline into a portfolio of large-scale solar generation assets, making a meaningful contribution to Europe’s energy transition.” ASE is AGP Sustainable Real Assets, Hartree Partners and A joint venture of NaGa Solar. In September 2021, the company signed an agreement with KlimaVest to develop a pipeline of solar PV projects in GermanyEditor/XingWentao