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Fiera and Palisade consortium acquires Amp US

February 22, 2023

A consortium comprising funds managed by Fiera Infrastructure – an affiliate of Fiera Capital – and Palisade Infrastructure Group has agreed to jointly acquire 100 per cent of the equity interests in Amp US Primary Holdings, a US-based renewable energy generation and battery storage business, from Amp Solar Group.

With headquarters in Denver, Colorado, Amp US has built a portfolio with generation capacity of approximately 200 MWDC across 39 operating, or under construction, projects “expected to be completed in the short term”.

“Additionally, the company has a large pipeline of solar and storage projects expected to be developed and built across existing and new US markets,” a statement said.

The transaction follows the passing of the Inflation Reduction Act in August 2022, which provides a “robust and long-term renewable energy policy framework in the United States and accelerates the strong policy momentum for state-level community solar programs”, according to an Amp statement.

Macquarie Capital acted as financial advisor and DLA Piper LLP US acted as legal advisor to Fiera Infrastructure and Palisade Infrastructure on the transaction. KeyBanc Capital Markets acted as financial advisor and Milbank LLP as legal advisor to Amp Energy on the transaction.