Amp Energy, a worldwide Energy Transition Platform and renewable energy provider, has finalised funding on its $155 million 61 MW/ 6.5 MWh solar plus storage portfolio in Massachusetts and New York. KeyBank led the construction and term debt, with US Bank investing the portfolio’s tax equity in the fourth deal between the three parties since 2017.
The majority of the portfolio’s 13 projects will begin operating in commercial capability in 2022, with the remaining projects following in the second quarter of 2023. In order to participate in the ISO New England wholesale markets, three of the projects will use DC-coupled energy storage and will be dispatched by the Amp X optimization and management platform, enabling the assets to autonomously optimise the battery output to maximise their fixed SMART programme revenues.
Reportedly, this strategic portfolio of solar and storage assets satisfies rising customer demand for clean, renewable energy generation while also advancing Amp’s investment in the community solar markets in Massachusetts and New York.