Renewables developer Prospect14 has partnered with a group of investors to launch a joint venture (JV) that will develop, build and operate utility-scale PV and solar-plus-storage projects in the US.
Dubbed Ampliform and backed by a “significant equity commitment” from a consortium of investors, the JV aims to develop more than 10GW of solar projects in North America by 2025, according to Prospect14.
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Ampliform is being launched with more than 3GW of early- and mid-stage projects under development, the first of which are expected to begin construction in 2023.
Among its investors is Greens Ledge Renewable Partners. Brad Romine, partner at the firm, said: “We are developing our projects with the intent to own and operate them efficiently, so we begin projects with the end in mind and implement creative, data-driven approaches to optimising plant design, development and construction.”
A team from Pennsylvania-headquartered Prospect14 will carry out greenfield origination, development and construction services for Ampliform.
Having originated more than 5GW of PV and solar-plus-storage projects to date, Prospect14 sold a portfolio of around 1GWdc of assets in Virginia and Pennsylvania last year.
Other solar developers of note launched this year include Starlight, a division of PV investor and asset manager NextEnergy Group, and AMPYR Energy USA, a JV from asset management group AGP Sustainable Real Assets and energy trading company Hartree Partners.
