Amp Energy seeks to sell its Australian assets

Amp Energy is considering selling its portfolio of assets in Australia. Against this backdrop, Amp Energy announced the sale of its U.S. community solar platform to reinvest in its growing Australian market.

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Amp Energy entered the Australian market in 2017 and has since evolved into an integrated model for owning and optimizing strategically located commodity assets. It thus provides the most cost-competitive hydrogen and green ammonia worldwide. However, a recent report mentioned that Amp was looking to sell its Australian asset portfolio.

A diversified portfolio of Australian assets

Co-founder and Chief Investment Officer, Paul Ezekiel, said that despite this transformative period of growth for their Australian business, he sees a very bright future for the continued large-scale development of a diversified portfolio of Australian assets that includes green hydrogen and ammonia.

The sale of the American community solar platform

Amp’s expansion into Australia includes and leverages Amp X’s digital energy platform, which supports a number of interoperable offerings aimed at unleashing flexibility at scale from the grid edge to support a fully decarbonized energy system and accelerate the energy transition. This platform includes a virtual power plant capability powered by artificial intelligence, which enables real-time autonomous management and optimized dispatch of battery energy storage assets to the grid.

In February 2023, Amp Energy announced the 100% sale of its U.S. community solar platform to a consortium of funds from Fiera Infrastructure and Palisade Infrastructure in Australia. Amp founder and CEO Dave Rogers said the sale was motivated in large part by the different strategy of Amp’s U.S. business compared to their high-growth utility-scale business. Amp therefore plans to reinvest in their high-growth Australian market.

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