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Osborne Clarke advises Hartree Partners, AGP Group and NaGa Solar on the creation of AMPYR Solar Europe - a major European solar joint venture


Written on 22 February 2021

Osborne Clarke has advised on the creation of AMPYR Solar Europe, a joint venture between Hartree Partners, AGP Group and NaGa Solar that will develop at least 4GW of solar projects across the UK, the Netherlands and Germany.

This transaction is an example of Osborne Clarke’s international decarbonisation expertise. Helping businesses to achieve net zero and meet the challenges of decarbonisation is a key part of Osborne Clarke’s client strategy.

Andrew Gould, chairman of AMPYR Solar Europe, said: “From start to finish Osborne Clarke has been extremely helpful and a pleasure to work with. The team is truly international and is made up of dedicated advisors with an in-depth knowledge of the market.”

AMPYR Solar Europe brings together AGP’s experience in developing large-scale renewable power projects, Hartree’s cutting edge power trading analytics and zero-carbon solutions, and NaGa’s in-depth local knowledge and land development prowess. Combining these complementary skills will speed up the build-out of solar capacity and offer an attractive opportunity for institutional investors to deploy in excess of €1 billion of capital and generate a reliable, long-term income. The full press release can be found on AMPYR’s website.

AMPYR Solar Europe will build on AMPYR Energy UK, Hartree’s existing partnership with AGP, which is developing 1.5GW of onshore wind, solar PV and associated battery storage in the UK. The UK operation intends to combine its solar assets with those under development in the Netherlands and Germany through NaGa. Solar has a key role to play in Europe’s future energy strategy and ambition to achieve net-zero carbon emissions. However, with reduced government subsidies, finding suitable locations for development and Power Purchasing Agreements (PPAs) to generate predictable revenues on a scale that makes them profitable have become harder to find.

The international Osborne Clarke team was led by Senior Associate Marie-Louise Weeda (Corporate Amsterdam) and Partners Alison Riddle (Financial Institutions London) and Christoph Torwegge (Corporate Hamburg). The wider due diligence and transaction team was made up of colleagues from Osborne Clarke’s Dutch, UK and German offices.

The team in the Netherlands was led by Senior Associate Marie-Louise Weeda with support from Partner Cristine Brinkman and Junior Associate Nick Staes (Corporate). Additional support was provided by Associate Casper Bos, Partner Berend Zwart and Associate Stephanie Geerdink from the Real Estate team. Partner Steven Verschuur (Regulatory), Partner Cars-Jan van Gool and Junior Associate Eveline Leijen provided notarial services. Partner Jeroen Bedaux (Compliance) and Head of Banking and Finance Axel van der Staak (Finance) also assisted.

The team in the UK was led by Partner Alison Riddle who was supported by Partner Edward Persse (Corporate), Associates George Skinner and Krish Mistry (FIG), Senior Associate Andrew Reeves (Finance) and Partner Jeremy Summers (Compliance).

The team in Germany was led by Partner Christoph Torwegge who was supported by Legal Project Manager Svenja Kaufeld, Senior Associate Alexandra Nautsch and Associate Leonie Müller (Corporate), Partner Daniel Breuer (Regulatory), Associate Karla Klasen (Commercial), Associate Marleen Rheker (Regulatory) and Senior Associate Romeo Szejnmann (Real Estate).

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Marie-Louise Weeda

Associate Director, Advocaat, The Netherlands

T +31 20 702 8698

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Dr. Christoph Torwegge, LL.M.

Partner, International Sector Leader, Energy and Utilities, Germany

T +49 40 55436 4040

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Casper Bos

Senior Associate, Advocaat, The Netherlands

T +3120 702 8646

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Berend Zwart

Partner, Advocaat, The Netherlands

T +31 20 702 8928

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Stephanie Geerdink

Associate, Advocaat, The Netherlands

T +31 20 70 28608

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Steven Verschuur

Partner, Head of EU law, Belgium / The Netherlands

T +32 2 515 93 82

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Cars-Jan van Gool

Partner, Civil Law Notary (notaris), The Netherlands

T +31 20 702 8664

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Eveline Leijen

Associate, Civil Law Notary (kandidaat-notaris), The Netherlands

T +31 20 70 28954

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Jeroen Bedaux

Managing Partner, Advocaat, The Netherlands

T +31 20 702 8614

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Axel Van der Staak

Head of Banking and Finance, Advocaat, The Netherlands

T +31 20 7028648

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