Amp closes financing for the 120MW Hillston Solar Farm
MELBOURNE, Australia, Sept. 16, 2021 - Amp Power Australia Pty Limited, the Australian operating company of global developer Amp Energy ("Amp") announced it has successfully raised Project Finance for its 120MW Hillston Solar Farm in New South Wales, Australia.
The Hillston Solar Farm executed a project finance agreement with Natixis and Export Development Canada (EDC) as Mandated Lead Arrangers with Natixis being the LC Provider and Sole Hedging Provider.
The project is expected to begin energisation in early 2022 and will generate approximately 235,000 GWh per year, the equivalent annual power consumption of approximately 48,000 households.
''Amp is pleased to begin a strategic relationship with Natixis for future financing of Amp projects in Australia and globally, and acknowledge the continued support of EDC". said Dean Cooper, Executive Vice President and Head of Amp Australia.
The Hillston financing extends Amp's expansion in Australia, after achieving commercial operations earlier this year with the 39MWdc Molong Solar Farm in New South Wales. Amp recently announced the establishment of the Renewable Energy Hub of South Australia, a strategic portfolio of large scale integrated Solar PV, Wind and Battery Energy Storage assets, including the Robertstown, Bungama and Yoorndoo Ilga integrated solar farms with BESS totalling up to 1.36GW of generation and 540MW of BESS across the portfolio.
Amp's expansion in Australia will include the implementation of Amp X. As a proprietary division of Amp, the digital energy platform provides a disruptive and interoperable grid edge digital platform. Amp X includes an Artificial Intelligence powered Virtual Power Plant capability, which enables real-time autonomous management and optimised dispatch of Battery Energy Storage assets across the grid.
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 utilising proprietary artificial intelligence expertise. The company is headquartered in Toronto with global operations throughout Australia, India, Japan, Spain, Czech Republic, UK and North America.
Founded in 2009, Amp is a high-growth disruptor at scale, backed by major investments from institutional capital partners including most recently the Carlyle Group, which invested US$374 million into the company in late 2020.
For more information, please visit amp.energy
Natixis is a French multinational financial services firm specialized in asset & wealth management, corporate & investment solutions, insurance and payments. A subsidiary of Groupe BPCE, one of France's largest financial institution groups through its two retail networks, Banque Populaire and Caisse d'Epargne, Natixis counts over 16,000 employees across 36 countries. Its clients include corporations, financial institutions, sovereign and supranational organizations, as well as the customers of Groupe BPCE's networks.
Natixis plays an active role in the transition to a sustainable economy, and has committed all of its business lines to this endeavor. Consistently ranked in the top 10 MLAs worldwide for infrastructure finance, Natixis is also ranked in the top 5 MLAs worldwide for renewable energy finance (IJGlobal as at December 2020). As one of the leading players in the renewable energy financing space, Natixis is proud to support its clients in supporting the energy transition
Export Development Canada (EDC) is a financial Crown corporation dedicated to helping Canadian companies of all sizes succeed on the world stage. As international risk experts, we equip Canadian companies with the tools they need – the trade knowledge, financing solutions, equity, insurance, and connections – to grow their business with confidence. Underlying all our support is a commitment to sustainable and responsible business.
In January 2019, EDC released its Climate Change Policy. One of the policy's key commitments is to increase EDC's business focused on clean and low carbon technology. EDC is a major financier of Canada's cleantech sector, facilitating more than $13.5 billion in Canadian cleantech exports since 2012. EDC discloses its climate-related risks and opportunities in alignment with the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD).