Leading investor in onsite sustainable energy solutions AMPYR Distributed Energy (ADE) has established a strategic partnership with Dowling Energy, an innovative company that helps property owners realise the full potential of onsite renewables.
The agreement will see ADE make a total commitment of up to £40m to Dowling’s pipeline, working in close collaboration to bring forward an initial 20MW of behind the meter solar projects, including a number of ground-mounted solar arrays located in close proximity to customer demand.
ADE will fund the projects through power purchase agreements (PPAs), while Dowling will use its expertise to manage landowners and offtakers through its innovative project development approach.
Ella Dowling, founding director at Dowling Energy said: “We founded Dowling after seeing other firms treating landowners poorly. Our aim is to leverage deep understanding of the property sector to take a different approach that is welcomed by the landowners and offtakers we work with.”
Managing director at Dowling Energy, Oliver King, added: “This strategic partnership is perfect for a business like ours, which is working hard to do things differently. We are impressed with the speed and dynamism of ADE, as well as the team’s willingness to work with us on new concepts. As our aims are closely aligned, it’s a partnership that will work well for both businesses.”
Miles Thomas, chief commercial officer at ADE, welcomed the deal, which extends the company’s reach from mainly rooftop into ground-mounted solar. He said: “Having raised an initial £100m in equity and given our current trajectory, we are perfectly positioned to be the sector’s leading funder in the UK and across Europe, expecting to deploy in excess of £300m total capital (with debt) into the space.
“We’re very active across the property sector, where we see significant potential for projects to deliver value and increase energy resilience. While many of the initiatives we have funded to date have been centred on rooftop solar and battery storage technology, ground-mounted solar schemes with private wire will also play a critical role in helping larger businesses to take advantage of all the benefits of distributed energy, with no upfront costs, going forward.”
“Our ambition is to simplify net zero for business customers through innovative and sustainable funding solutions that de-risk the process and give them early access to the financial, environmental and energy security benefits that distributed energy will bring in a fast changing and progressive energy landscape. Dowling Energy shares our commitment to removing the barriers and making it easier to drive adoption of renewables.”
For more information about AMPYR Distributed Energy, visit www.ampyrde.com. To find out more about Dowling Energy, visit https://dowlingenergy.co.uk/about-us/
