AMPYR Distributed Energy and Olympus Power commit £50m to onsite renewable energy

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Rob Kerr
21st May 2024
Automotive manufacturer Sertec’s Wincaster House, an Olympus Power 1MW roof-mount solar design and installation

Olympus Power and AMPYR Distributed Energy announce strategic partnership, committing £50m to onsite renewable energy projects.

Olympus Power, an established UK renewable energy developer, and AMPYR Distributed Energy (ADE), a leading investor in onsite sustainable energy solutions, have announced a £50m partnership that will provide innovative financing for clean energy infrastructure.

The agreement includes a combination of operational assets and a pipeline of over 50MW of rooftop solar developments for commercial and industrial customers in the UK and across Europe.

Working together, Olympus Power and ADE will accelerate the roll-out of onsite renewable energy, by providing long-term Power Purchase Agreement financing to make it simple and affordable for businesses to decarbonise their operations.

The partnership capitalises on the continued growth of the large-scale commercial and industrial solar market. Power Purchase Agreements (PPAs) give organisations access to long-term, affordable renewable energy with no upfront costs. This enables businesses to achieve significantly lower carbon emissions, alongside lower energy costs.

Simon Nicholls, CEO of Olympus Power, said: “Collaborating with ADE will help to drive greater investment from UK businesses into renewable energy, adding to the momentum and accelerating progress towards a net zero economy. By making decarbonisation commercially desirable, this long-term agreement will prove significant across both the UK and Europe.”

John Behan, founder and CEO of ADE, added: “We are delighted to be working closely with Olympus Power. This partnership enables us to deploy significant capital by working with an experienced developer. We’re on a mission to simplify net zero for business customers through innovative and sustainable funding solutions.”

About Olympus Power

Olympus Power is one of the largest developers of commercial industrial PPA projects in the UK. They operate a portfolio of 40 distributed energy assets and have installed 1,200 commercial solar systems. Boasting a 45-year heritage, the company operates from four bases in the UK and aims to offset 1,000,000 tonnes of CO2 by 2025. For more information about Olympus Power, visit www.olympuspower.co.uk.

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About AMPYR Distributed Energy

AMPYR Distributed Energy (ADE) funds, owns, and operates onsite energy solutions that help businesses go green and reduce their energy costs. Our innovative financing options make it simple for customers to benefit from affordable, fixed-price energy with no upfront expenditure. We provide a full turnkey service for clean energy assets on commercial sites, delivering reliable green energy to our customers for the long-term. ADE is backed by AGP Sustainable Real Assets, a global infrastructure development and asset management group that invests in, develops and operates sustainable infrastructure.

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