Ashurst Advises Amp Energy on £160 Million Credit Agreement for Renewable Energy Projects
Key Ideas
- Ashurst has advised Amp Energy on a £160 million revolving credit agreement from Nomura to fund project development expenses for renewable energy projects in South Australia and Scotland.
- Amp Energy, a global energy transition development platform, focuses on renewables, battery storage, and hydrogen, with significant investments from institutional capital partners like Carlyle.
- The financing will support the development of the Bungama Battery Energy Storage System and the Hunterston BESS, in addition to future renewable energy projects around the world.
- The Ashurst team, led by partners from Sydney and New York, played a key role in facilitating the global financing to help Amp Energy expand its energy project portfolio internationally.
Global law firm Ashurst has provided legal counsel to Amp Solar Group Inc. (Amp Energy) in securing a £160 million revolving credit agreement from Nomura. This financing is earmarked to cover project development expenses for the Bungama Battery Energy Storage System in South Australia and the Hunterston BESS in North Ayrshire, Scotland, as well as upcoming renewable energy ventures. Amp Energy, a prominent player in the global energy transition sector, specializes in delivering renewable energy solutions, battery storage, and hydrogen on a large scale. With a track record of developing, building, or contracting 14 GW of renewable and battery assets worldwide, Amp Energy has garnered substantial investments from institutional capital partners, including leading private equity firm Carlyle. Operating across North America, the UK, Australia, Japan, and Spain, Amp Energy is well-positioned to drive sustainable energy initiatives globally. Partner Chris Redden from Ashurst expressed gratitude for the opportunity to support Amp Energy in this cross-border transaction, which will enable the company to enhance its global energy project portfolio. The Ashurst team, comprising partners from Sydney and New York, along with other legal professionals, worked collaboratively to facilitate this significant financing arrangement, showcasing their expertise in the energy and project development sectors.