“Amp, a global renewable energy infrastructure platform company, today announced it has closed financing on its 29.4 MW | 42 MWh Massachusetts Community Solar portfolio, valued at approximately $100M. KeyBank will provide construction and term debt, with US Bank investing the tax equity for the portfolio.
The 4 projects under the portfolio will be the first in the US to be dispatched by the Amp X trading platform allowing the assets to autonomously optimize the battery output to maximize their fixed SMART program revenues while participating in the ISO New England wholesale markets and the Massachusetts Clean Peak Standard program.
The integrated design that includes DC-coupled energy storage, bifacial modules along with proprietary optimization and design, once again highlights Amp’s emerging position as a leader in advanced technology.
Amp has signed offtake agreements with investment grade counterparties Lowe’s and Hannaford grocers as anchors for the community solar projects, and is working with its long-standing partner BlueWave Solar to source the small offtakers for the projects that will reach commercial operation between Q1 2021 and Q2 2022.”
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Amp Energy. 24 September 2020.