AMPYR Solar Europe (ASE) has acquired Netherlands-based SolarEnergyWorks’ (SEW’s) solar business.
This includes a highly experienced team of 15 professionals and a high-potential asset pipeline of 100MWp of ready to build and 650MWp of under-development assets.
Following this acquisition, AMPYR Solar Europe will have a development pipeline of solar PV assets of over 1GWp in the Netherlands, and an aggregate development pipeline of 6GWp including Germany and UK, moving AMPYR Solar Europe a step closer to its goal of being a leading independent solar power producer in Europe.
After this acquisition, AMPYR Solar Europe will grow its team strength to 22 people in the Netherlands and add Utrecht as another office location.
In total, AMPYR Solar Europe now employs 60 people across its operations in the UK, the Netherlands and Germany, and has a combined large-scale solar project pipeline of over 6GWp.
“SEW has successfully assembled a portfolio of high-quality solar power generation assets across the Netherlands, therefore we are delighted to have completed this acquisition,” said Alexander Koeman, Managing Director of AMPYR Solar Europe Netherlands.
“The acquisition of SEW complements our existing Dutch business very well and will help accelerate our long-term plans in terms of portfolio growth, talent addition, local presence and the renewable energy transition in general.”
Rajesh Gathala, CEO of AMPYR Solar Europe and AGP Partner, added: “As a growing company, we continue to look for strong asset pipelines and high-quality teams and in SEW we found that perfect match. This acquisition further accelerates ASE’s plan to deploy significant capital in this sector in the near term as we continue our journey in becoming a market leading operator in Europe.”
Eric van der Gun, SolarEnergyWorks co-founder, commented: “Finding a buyer with the right philosophy and attitude was as critical a part of our selection as its financial strength. In AMPYR Solar Europe, we have found a company with complementary competences, matching DNA and vision on the development of the solar industry in the Netherlands.
“I am confident that the expanded company will bring a high quality and expanded portfolio of Dutch solar assets to fruition.”