AMPYR Energy USA announced the acquisition of two utility-scale solar projects totalling more than 210 peak megawatts (MWp) in North Carolina and South Carolina. The transaction expands the company’s footprint in the southeastern United States and strengthens a national pipeline now exceeding 4 gigawatts (GW) of carbon-free energy assets.
The two facilities are currently in advanced stages of development. AMPYR Energy USA plans to secure long-term power purchase agreements in 2024 with customers from the public or private sectors. Financial terms of the transaction were not disclosed. Project delivery will be overseen by the company’s internal technical and development teams.
Targeted regional expansion in the Southeast
This acquisition aligns with AMPYR Energy USA’s strategy to build a structured renewable portfolio in southeastern markets. “This acquisition marks an important step to expand our solar and storage business in the United States,” said Steve Semlitz, Chairman of AMPYR Energy USA, in a statement issued on July 25.
The projects will join a growing portfolio of assets distributed across the country. AMPYR Energy USA continues to invest in internally developed “greenfield” projects while supplementing this approach with targeted acquisitions.
Balancing ISO and non-ISO market exposure
The company is aiming for a balanced approach between Independent System Operator (ISO) markets and unregulated markets to capitalise on strong nationwide demand for renewable electricity.
“We are strengthening our efforts in the Southeast to build a scalable regional portfolio of renewable energy assets,” said Sumeet Bidani, Chief Development Officer at AMPYR Energy USA. The company is pursuing a growth strategy based on both internal project development and the acquisition of assets at various stages of maturity.
