AMPYR Solar Europe Secures £200 Million Facility from NORD/LB to Advance UK Solar Projects

AMPYR Solar Europe (ASE), a leading pan-European solar developer and IPP, has secured a project finance facility of up to £200 million from NORD/LB to support the development of approximately 400MWp of solar PV capacity across the UK.

The first project to benefit from this facility is the Northwold Solar PV asset in Norfolk, set to reach Commercial Operation Date (COD) in Q1 2025. The project is backed by a long-term Power Purchase Agreement (PPA) signed in 2023 with international contractor Multiplex.

Additional solar assets in the UK are expected to achieve COD through 2025 and beyond, as ASE accelerates its growth. The company is actively expanding its portfolio in the UK, Germany, and the Netherlands, with a pipeline nearing 1GWp in the UK and 8GWp across Europe.

CEO Tarun Agrawal commented:

“This facility marks a significant milestone for ASE. Partnering with a leading project finance bank like NORD/LB enables us to bring Northwold online and scale up our UK pipeline in the near term.”

Heiko Ludwig, Global Head of Structured Finance at NORD/LB, added:

“Supporting decentralized renewable projects like Northwold reflects our commitment to the energy transition. We're proud to collaborate on a project that directly contributes to the UK’s decarbonisation goals.”

Clifford Chance advised ASE, while White & Case represented NORD/LB in the transaction.