London-based AMPYR Solar Europe has secured a project finance facility of up to GBP 200 million (USD 252.9 million) from Nord/LB, a German bank, to support the construction and operation of approximately 400 MWp of solar assets across the UK.
The first project to benefit from the facility will be the Northwold Solar PV in Norfolk, with additional projects slated for development through 2024 and 2025.
“This facility will allow AMPYR Solar Europe to bring our Northwold Solar PV asset to market, and will help accelerate the construction and operation of 400MWp of solar assets in the UK over the near term,” said Tarun Agrawal, CEO of AMPYR Solar Europe.
The Northwold project is expected to be operational by the first quarter of 2025. It has already secured a power purchase agreement (PPA) with construction firm Multiplex, signed in 2023.
