US solar developer Prospect14 has partnered with a group of energy investors to launch joint venture with a 3GW project pipeline of utility-scale solar and storage projects.
Ampliform’s pipeline includes early- and mid-stage projects under development, the first of which are expected to begin construction in 2023.
The new venture is backed by a “significant equity commitment” from a consortium of investors led by the Jones Family Office, alongside Barings, the George Kaiser Family Foundation and others.
Ampliform is also pursuing additional greenfield project origination as well as acquisition opportunities of solar projects and interconnection capacity, with a plan to build a development pipeline of more than 10GW by 2025.
Prospect14, led by energy industry veterans Carl Jackson, Geoff Underwood, and Charles Silio, will provide greenfield origination, development and construction services to Ampliform.
Also investing in Ampliform and serving on its executive leadership team on behalf of Greens Ledge Renewable Partners (GLRP) are Brad Romine and Steve Culliton, who previously led North American power generation investments, power trading and asset optimisation for Castleton Commodities International.
The leadership team also includes John Vivenzio, who previously served as Chief Technology Officer of King Street Capital Management, a global alternative asset manager, and Mikael Andren, who serves as Chief Executive Officer and President of the Jones Family Office and related entities.
“We are very excited to partner with such experienced investors and power plant operators to drive the deployment and optimization of solar + storage projects at scale,” said Carl Jackson, Partner, Prospect14.
“Brad, Steve, and John have had tremendous success optimising power plants, managing quantitative energy trading operations, building robust trading and operational data analysis infrastructure, and putting in place innovative financing for energy projects.
“That experience combined with our ability to pinpoint interconnection opportunities and scale them quickly in targeted markets is unique within the industry and will be invaluable as Ampliform transitions towards a merchant model.”