A new joint venture company, AMP Solar UK Ltd, launches today, combining the expertise of three established solar energy firms and the financial might of Apollo Capital Management L.P., one of the world’s foremost investment funds. Against a backdrop of steadily increasing energy prices, AMP Solar UK Ltd will offer both free and paid-for fully managed solar energy programmes, allowing customers to benefit from cheaper energy, and potential new sources of income.
Among the partner companies, MAP Environmental Ltd is responsible for sales, lead-generation and marketing, AMP Solar Group Inc contributes experience in solar asset development, finance and asset management globally, while Sustain Energy Solutions Ltd completes the trio and brings extensive knowledge and skill in undertaking EPC and O&M contracts for both ground-mount and rooftop projects including for housing associations. Together, the partners have already successfully developed and constructed over 400MW of solar assets globally.
AMP Solar UK Limited. was established to acquire, build and manage a portfolio of over 300MW of ground-mount, commercial and residential solar energy installations during 2015-2016. The company has a strong focus on commercial and residential building-mounted solar but their initial commitment will be to social housing developments, with the goal of bringing at least 75,000 tenants out of fuel poverty. In addition, AMP Solar UK Ltd has in excess of 100MW of other ground-mount projects planned and under consideration for the current 1.4 Renewables Obligation Certificate (ROC) regimes, with further projects to be acquired through to March 2016 under 1.3 ROC.
Developers, commercial landlords and housing associations can purchase solar systems outright from AMP Solar UK Ltd, thereby producing an income from generated power. Or they can opt for a no-cost managed installation and benefit from a Power Purchase Agreement, through which they receive heavily discounted energy, with costs fixed over a 20-year term.
About AMP Solar UK Ltd
AMP Solar UK Ltd is a joint venture created by three established solar companies: Toronto-based AMP Solar Group Inc, UK-based MAP Environmental Ltd. and Sustain Energy Solutions Ltd and is backed by Apollo Capital Management L.P. Created to acquire, build and manage a diverse portfolio of ground and building mounted solar assets, AMP Solar UK has a special focus on housing associations and social housing. The company is committed in building its portfolio throughout 2015 and 2016, with the aim of having at least 300MW of operating assets under management and helping lift 75,000 social housing tenants out of fuel poverty.
