AMPYR Solar Europe achieves financial close on 96 MWp solar farm in the Netherlands

London, Utrecht - October 22nd 2024

• The NOP solar plant, located in the municipality of Noordoostpolder, will have a total capacity of 96 MWp and is expected to be operational by mid-2025.

• Four separate solar parks will operate as a single solar plant, powering 30,000 homes and saving more than 36,000 tonnes of carbon emissions annually.

• The combined 65-hectare solar plant, encompassing natural grassland, will stretch 3.9km along the dykes of the IJsselmeer.

AMPYR Solar Europe, a leading pan-European solar developer and independent power producer, has achieved financial close for its latest solar PV project in the Netherlands. Delivering clean energy from its 96 MWp solar plant by June 2025, the project will provide renewable energy to 30,000 homes and save more than 36,000 tonnes of carbon

Delivering clean energy from its 96 MWp solar plant by June 2025, the project will provide renewable energy to 30,000 homes and save more than 36,000 tonnes of carbon emissions annually. The solar plant will span an area of 65 hectares and will be built along 3.9km of dyke next to the IJsselmeer in the municipality of Noordoostpolder.

It is the latest development – and the third cluster – of solar plants financed through AMPYR Solar Europe’s €200 million omnibus multi-project financing facility from Rabobank. The other two clusters – with solar plants in the municipalities of Echt-Susteren (2 plants), Venray and Voorne aan Zee – are already operational. AMPYR Solar Europe will construct four separate solar parks as part of the NOP solar plant. AMPYR Solar Europe is also responsible for the design and realisation of the grid connection via a 33 kV route to a transformer station, from which a 110 kV connection will be made to TenneT’s high-voltage substation 'Westermeerdijk'.

Breaking new ground for its unique design, the connection of the four assets will allow the NOP solar plant to operate as a single renewable energy production asset. It will also integrate with existing wind and other existing solar power infrastructure. Including those from other developers, the combined solar parks will be the largest built underneath a wind farm in the Netherlands. Upon full completion, the overall complex will provide an aggregate 850MWp capacity of wind and solar generation.

The complex project required close collaboration with more than 30 landowners, other existing solar developers, and the existing wind farm operator, underscoring the asset’s unique challenges and achievements for the growth of renewable energy production in the area.

With the NOP solar plant and two existing solar plant clusters, AMPYR Solar Europe will have a combined renewable power production capacity of over 130 MWp in the Netherlands, further advancing the renewable energy transition and local community development in the country.

Tarun Agrawal, CEO, AMPYR Solar Europe said:

“With this project, AMPYR Solar Europe has created an energy landscape that integrates seamlessly with existing wind energy infrastructure. Through close coordination with other parties, we achieved a unique design that not only maximises energy generation through solar PV but also minimises the impact on the surrounding environment. This collaboration exemplifies the potential for creating integrated energy landscapes that have minimal impact on the environment but create lasting benefit to the local communities.”

AMPYR Solar Europe continues to develop and construct a portfolio of solar assets across Germany, the Netherlands and the UK and now has a Dutch pipeline of around 1.5 GWp, and an aggregate European pipeline of close to 8 GWp.

Rabobank was represented by Pieter Plantinga, Executive Director of Project Finance, during the process. He remarked:

“With the addition of the NOP Solar project to this portfolio financing, AMPYR Solar Europe is realizing a unique project situated near the dykes and beneath the existing wind turbines. This was a remarkable collaboration with AMPYR Solar Europe. The unique structure of the financing enables AMPYR Solar Europe to develop a diverse portfolio, including both fully owned projects and those with community participation. This aligns perfectly with Rabobank’s goals, as it empowers local communities to actively contribute to the energy transition.”

Law firms Osborne Clarke and Baker McKenzie provided legal support to AMPYR Solar Europe, whilst Rabobank was represented by Clifford Chance.

About AMPYR Solar Europe

Headquartered in London, with offices in Maastricht, Utrecht, Frankfurt and Berlin, AMPYR Solar Europe is an Independent Solar Developer and IPP with in-house end-to-end capability across Asset Development, Financing, Construction, Operations and Power Sales. AMPYR Solar Europe's unique platform benefits from a highly experienced sponsor group: AGP Sustainable Real Assets brings extensive experience in establishing and operating GW scale renewable platforms; Hartree Partners' cutting-edge power trading analytics and zero-carbon solutions; as well as NaGa Solar's in-depth local knowledge and land development capability.

For more information, visit: www.ampyrsolareurope.com

About Rabobank Group

Rabobank is an international financial services provider operating based on cooperative principles. It offers retail banking, wholesale banking, private banking, leasing and real estate services. As a cooperative bank, Rabobank puts customers' interests first in its services. Rabobank's Project Finance team has a global presence and a strong focus on advising on, structuring, arranging and underwriting (complex) project finance transactions. The team has a strong focus on the renewable energy and infrastructure sectors. Project Finance generates added value for the bank's clients by combining its expertise across the entire spectrum of financing and in close cooperation with other disciplines within the bank. This is what enables Rabobank to provide its clients with services of the highest quality.

For more information, visit: www.rabobank.com

For more information

Cyrus Dadachanji
07544871017
cdadachanji@ampyrsolareurope.com