The Corporate Group from independent UK law firm Burges Salmon has advised independent solar developer and IPP AMPYR Solar Europe on the acquisition of a 390 MWp Solar PV and battery energy storage system (BESS) portfolio from Tyler Hill, comprising sites across the UK.
The five projects are grid secured and are in the process of being submitted for planning approval. AMPYR Solar Europe will develop the assets in partnership with Tyler Hill through to ‘ready-to-build’ status and begin construction in 2024. In parallel, AMPYR Solar Europe’s in-house Power Purchase Agreement (PPA) team will source long-term power offtakers for the renewable power produced by these projects. The projects are located in Somerset, Worcestershire and County Durham, in addition to a Nationally Significant Infrastructure Project (NSIP) in Moray, Scotland.
For AMPYR Solar Europe, this significantly bolsters the company’s presence as a major player within the UK solar market and represents a clear step forward in its ambition to become one of Europe’s leading Independent Power Producers (IPP).
The Burges Salmon team advising AMPYR Solar Europe on this acquisition comprised Corporate Group members, partner Danny Lee and senior associate Niall Mackle and Energy partner Alec Whiter, with support from colleagues in the firm’s Corporate, Energy, Real Estate and Tax teams.
This transaction marks the third deal that the Burges Salmon team has advised AMPYR Solar Europe on, following the sale of a 45 MWp solar PV and 30MW, 2-hour battery storage site in Dunfermline to water company Pennon and the completion of a NetZero infrastructure deal with Edinburgh Airport.
Matthew van Staden, Senior PPA Originator at AMPYR Solar Europe, says: “We are grateful to the Burges Salmon team for their expert advice in enabling us to complete these two transactions. On the Tyler Hill portfolio acquisition, in particular, we are confident that this partnership will deliver high quality, cost-effective solar projects that will be especially important to PPA offtakers, and it is with thanks to Burges Salmon’s expertise that we were able to get this deal over the line successfully.”
Danny Lee, a partner in the Corporate Group at Burges Salmon, adds: “It was a pleasure to work side-by-side with Matt van Staden, Julie Rutherford and the wider AMPYR team and we look forward to supporting them as they continue their strategic goal of acquiring and developing renewable energy and battery storage assets”.