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    New Joint Venture Formed to Develop Utility-Scale Solar Projects


    September 27, 2022 - The Well News

     

      ARDMORE, Pa. — Prospect14, a renewable energy developer that sold off nearly 1 GW in assets in Virginia and Pennsylvania last year, has partnered with a new set of investors to build and operate utility-scale solar and solar-plus storage projects across the U.S.

      In a press release, the company said the new joint venture will be called Ampliform and that it and its investors intend to develop more than 10 GW of solar projects in the U.S. and other parts of North America by 2025.

      In the pipeline so far are about 3 GW of early- and mid-stage projects, the first of which is expected to begin construction in 2023.

      Prospect14, led by energy industry veterans Carl Jackson, Geoff Underwood, and Charles Silio, will provide greenfield origination, development and construction services to Ampliform.

      The consortium of investors behind the new joint venture is led by the Jones Family Office, alongside Barings and the George Kaiser Family Foundation.

      Also investing in Ampliform and serving on its executive leadership team on behalf of Greens Ledge Renewable Partners are Brad Romine and Steve Culliton, who previously led North American power generation investments, power trading and asset optimization for Castleton Commodities International; John Vivenzio, who previously served as chief technology officer of King Street Capital Management, a leading global alternative asset manager; and Mikael Andren, who serves as chief executive officer and president of the Jones Family Office and related entities.

      “We are very excited to partner with such experienced investors and power plant operators to drive the deployment and optimization of solar and storage projects at scale,” Jackson said.

      “Brad, Steve and John have had tremendous success optimizing power plants, managing quantitative energy trading operations, building robust trading and operational data analysis infrastructure, and putting in place innovative financing for energy projects,” he continued. “That experience combined with our ability to pinpoint interconnection opportunities and scale them quickly in targeted markets is unique within the industry and will be invaluable as Ampliform transitions towards a merchant model.”

      Brad Romine said Greens Ledge Renewable Partners partnered with Prospect14 because it has built a unique platform with a track record of using data-driven methods to site and develop solar-plus storage projects at scale in the nation’s most competitive energy markets.

      “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 optimizing plant design, development and construction. This will make Ampliform faster and more efficient at every stage, from greenfield development through to operations,” he said.

      Dan can be reached at dan@thewellnews.com and @DanMcCue

      The post New Joint Venture Formed to Develop Utility-Scale Solar Projects appeared first on The Well News | Pragmatic, Governance, Fiscally Responsible, News & Analysis.


      The views expressed in content distributed by Newstex and its re-distributors (collectively, "Newstex Authoritative Content") are solely those of the respective author(s) and not necessarily the views of Newstex et al. It is provided as general information only on an "AS IS" basis, without warranties and conferring no rights, which should not be relied upon as professional advice. Newstex et al. make no claims, promises or guarantees regarding its accuracy or completeness, nor as to the quality of the opinions and commentary contained therein.

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