AMPYR Solar Europe (ASE) has closed a €400 million ($453 million) facility with CarVal Investors as part of an effort to bring more than 2 gigawatts of solar power capacity into operation by 2025.
This initial development forms a significant part of ASE’s overall goal to roll out 5 gigawatts of large-scale solar projects in Northwest Europe.
As part of the deal, CarVal has provided an initial tranche of €250 million ($283 million), as well as a further incremental tranche of €150 million ($179 million). This facility will predominantly cover the construction costs of solar assets and provide some development capital and operational expenses.
“One year after its inception, we couldn’t be more proud to have reached this key milestone in ASE’s journey to become a leading European solar IPP,” said Andrew Gould, executive chairman of ASE. “With the support of CarVal as our capital partner, we are on a steady path to turn our fast-progressing pipelin