Prospect14 creates US solar JV with 3-GW pipeline

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September 16 (Renewables Now) - US solar developer and investor Prospect14 has set up a joint venture (JV) with a group of investors and power plant operators, aiming to develop 10 GW of solar projects in North America by 2025.

The new entity is dubbed Ampliform and will start operations with a portfolio of more than 3 GW of early and mid-stage development projects, the first ones of which are planned to enter construction next year, Prospect14 said on Thursday.

The new entity has received a “significant equity commitment” from a consortium of investors led by the Jones Family Office, alongside Barings, the George Kaiser Family Foundation, and others. Its major focus will be to develop, build and operate utility-scale solar and storage projects across the US, with Prospect14’s help. In the long term, Ampliform will seek to expand its initial portfolio by acquiring new solar projects and interconnection capacity so as to reach the 10-GW goal.

Guggenheim Securities served as financial advisor for the JV deal and as structuring advisor, private placement agent and arranger on the financing of Ampliform.

Since its inception in 2017, Pennsylvania-based Prospect14 has originated some 5 GW DC of solar and solar-plus-storage schemes.

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Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.

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