AMPYR Solar Europe has closed a €200m framework project finance facility with Rabobank, allowing the developer to construct and operate 350MWp of PV assets across Europe.
The facility will be drawn immediately to finance three PV assets in the Netherlands with more to follow later this year.
The first three sites to be constructed will be in the communities of Echt-Susteren, Tinte and Venray in the Netherlands.
Construction activities are due to begin shortly, with the commercial operation date for all three assets expected by Q1 2024.
This facility will help AMPYR Solar Europe’s goal of becoming one of the continent’s leading IPPs by enabling the company to build its first Solar PV assets in the Netherlands since its formation in 2021.
The facility can be used to project finance solar farms across Europe, focusing on AMPYR Solar Europe’s core base in Germany as well as the Netherlands.
Dhruv Menon, AMPYR Solar Europe’s chief financial officer said: “It is very important for us to find a partner like Rabobank.
“We need a leading player in the project finance market who is also sensitive to the needs of the local communities taking part in the green energy transition.
“Rabobank’s unique global-yet-local footprint has allowed us to provide bespoke partnership solutions to local communities and local energy corporations.”