ASE buys SEW’s solar business

SolarEnergyWorks (SEW), a Netherlands-based solar company, has been acquired by international solar energy producer AMPYR Solar Europe (ASE) for an undisclosed sum. The agreement also includes 15 SEW professionals and a pipeline of ready-to-build assets totaling 100 MWp and 650 MWp that are currently in the development stage.

Following the deal’s completion, ASE will have more than 1 GWp of solar power in the Netherlands and a 6 GWp total pipeline of development in Germany and the UK. The company stated that the agreement will enable it to achieve its objective of becoming a major independent solar power producer in Europe. It will increase ASE’s Dutch team to 22 and add Utrecht as another office location for the company.

In February 2022, ASE received a €400 million loan from CarVal Investors to put more than 2 GW of solar power capacity online in Europe by 2025. CarVal contributed a €250 million first tranche and a €150 million supplemental tranche to assist ASE’s project. The loan would be used to fund the construction of the solar assets, as well as development capital and operating expenses.

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