Fiera Infrastructure, Palisade Infrastructure Group to Acquire RE Platform Amp US

A consortium comprising funds managed by Fiera Infrastructure, an affiliate of Fiera Capital Corporation, and Palisade Infrastructure Group has agreed to jointly acquire 100% of the equity interests in Amp US Primary Holdings, the US-based renewable energy generation and battery storage business of the Amp Solar Group.

Amp US is a leading developer, owner and operator of US community solar and storage projects. It has built a portfolio of approximately 200 MWdc across 39 operating or under construction projects. Additionally, the company has a large pipeline of solar and storage projects expected to be developed and built across existing and new US markets.

The transaction is expected to close in March 2023, subject to customary closing conditions and regulatory approvals.

Fiera Infrastructure and Palisade Infrastructure will continue to support the Amp US long-term strategy to develop, own and operate the growing portfolio and bring the financial and economic benefits of solar generation and battery storage to local communities across.

The existing portfolio of Amp US comprising operating and under-construction projects is expected to abate approximately 171,000 tonnes of CO2 annually by 2024.

Mike Reynolds, MD, Americas of Palisade Infrastructure, said, "There is growing subscriber demand and policy support nationwide for community solar programs, which provides strong tailwinds for Amp US to build out its diversified project pipeline across the country. We are excited to invest in and support the management team and look forward to maintaining an ongoing relationship with the global Amp Energy platform."

He said that the transaction with Amp US will increase the Palisade Infrastructure Group's total renewables capacity under management to over 1.8 GW and represents our third North American investment.

Brooks Kaufman, Managing Director of Fiera Infrastructure, said, "Fiera Infrastructure is excited to announce its investment in Amp US. We believe the company is well positioned, with a strong management and operations team, to expand through scale acquisitions and new development in an attractive and growing sector with strong tailwinds."

Dave Rogers, Founder and CEO of Amp US, said, "Palisade Infrastructure and Fiera Infrastructure are focused on the continued scaling of the business, and we look forward to them carrying on the mission to drive the energy transition forward with our high-growth fully integrated platform."