Amp Energy Provides $100,000 Endowed Scholarship for the University of Rochester
New York, US – August 3rd, 2022 – Amp, a global energy transition platform and renewable energy developer with community solar farms across the US, announced today that it has provided a $100,000 contribution to the University of Rochester for an endowed scholarship for undergraduate students in Arts, Sciences & Engineering.
The University of Rochester has subscribed to six of Amp’s solar farms in Upstate New York, and will receive financial credits as a result of the clean, renewable energy generated by the farms. This partnership was arranged through the University’s Utilities and Energy Management Department. The University is using the savings to fund to future sustainability initiatives and reduce the carbon footprint of their operations.
“As a proud member of the Rochester community, Amp is pleased to give back to the community and enable future clean energy economy leaders matriculating at the University of Rochester,” said Nicholas Topping, Director, US Community Solar at Amp.
Combined, the six solar farms that the University of Rochester has subscribed to will produce over 50 million kWhs of clean energy in year 1, and more than 1 billion kWhs over the next 25 years. This is enough electricity to power 7,244 local homes annually, and the equivalent of removing over 73,000lbs of C02 from the atmosphere per year.
How it Works
The solar panels that have been installed at the farms generate electricity, which is delivered to the local utility (power grid). The utility then awards the community solar participants financial credits for the electricity delivered by the solar sites. In the University of Rochester’s case, these credits are applied to the University’s energy bill with a percentage also going to Amp as the owner and operator of the site. The University will receive up to 40% of the solar credits generated from the six solar farms, with the remaining credits made available to other participating local homes and businesses. By participating in the Community Solar Program, the University is helping to increase the generation of clean energy in upstate New York and sharing those benefits with both residents and businesses.
Amp’s ownership and operation of its projects places a high priority on working together with landowners, towns and other local stakeholders to ensure a long-term partnership. The projects help local landowners maximize or repurpose their land, create new local jobs, and also maintain biodiversity with the integration of pollinator-friendly seed mixes for the vegetative cover underneath the solar arrays.
For more information on the process, see https://community-solar.energy/how-it-works.
Amp is a global energy transition platform.
We develop, own and operate clean energy assets throughout our core markets around the world. Alongside Amp X, our disruptive grid-edge technology platform utilizing proprietary artificial intelligence expertise, we are reimagining the grid and leading the Energy Transition. The company is headquartered in Toronto with global operations throughout North America, Australia, Japan, Spain, Czech Republic, and the UK.
Founded in 2009, Amp is a high-growth disruptor at scale, backed by major investments from institutional capital partners including most recently Carlyle, which invested US$374 million for a minority stake in the company in late 2020.