Carlyle Group Partners With Amp Energy, By Investing USD 374 Mn

Global investment firm, The Carlyle Group has announced its growth investment in Amp Solar Group (Amp Energy), an energy transition platform company, with an investment of USD 374 million.

The Canadian based, global renewables company has developed over 1.8 GW of distributed and utility-scale renewable generation projects, hybrid generation plus storage projects and stand-alone battery storage projects, and an additional 2.0 GW and 2.2 GWh of assets in late-stage development or construction. The company has operations throughout North America, Japan, Australia, India, the UK, Iberia, and the Czech Republic.

It also has an addition, Amp X which is a fully integrated digital energy platform, including a state-of-the-art smart transformer that autonomously manages and optimizes dispatch of all forms of generation distributions.

Speaking of the partnership, Dave Rogers, President & CEO of Amp Energy said, “We are pleased to partner with Carlyle, a world-class investment firm that truly understands and values our growth vision. This investment validates Amp’s position as a leading global energy transition platform.

“We believe Carlyle’s extensive global experience and network will help expedite our growth strategies to accelerate the energy transition around the world,” Rogers added.

However, The Carlyle Group, based in Washington, DC, is a global investment firm with deep industry expertise that deploys private capital across four business segments: Corporate Private Equity, Real Assets, Global Credit and Investment Solutions. While giving employment to 1,800 people in 30 offices on different continents, the company has USD 230 billion of assets under management as of September 30, 2020.

“This transaction demonstrates Carlyle’s continued focus on identifying and executing upon attractive investment opportunities such as solar projects and battery storage technologies around the world that are being propelled by the energy transition”, said Pooja Goyal, Head of Carlyle’s Renewable and Sustainable Energy team and Co-Head of Carlyle’s Infrastructure group.

She further added, “We see significant value in working with proven management teams through differentiated development platforms with significant global reach such as Amp Energy.”

The Carlyle investment will help catalyze the continued rapid growth of both Amp’s asset base and Amp X within its core markets of North America, Japan, Australia, Iberia, and the UK.

Lately, in December 2020, Amp Energy expanded Tata Hitachi’s solar plant to 10.5 MW making it the largest BTM (distributed RE) project in Eastern India. However, the solar plant was commissioned on November 11, 2020, and the project execution was managed by all compliances placed to manage the COVID-19 situation in India.