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In a joint acquisition, Fiera Infrastructure Inc. and Palisade Infrastructure Group have successfully purchased 100% of the equity interests in Amp US Primary Holdings Inc., a leading renewable energy generation and battery storage business based in the United States. The acquisition was completed from Amp Solar Group Inc., a global energy transition platform headquartered in Canada.
Amp US, headquartered in Denver, Colorado, is renowned for its development, ownership, and operation of community solar and storage projects across the United States. Since entering the US market in 2016, the company has experienced rapid growth, currently managing a portfolio with a generation capacity of approximately 200 MWDC across 39 operating or under-construction projects.
Following the acquisition, Amp US will be rebranded as PureSky Energy Inc. (PureSky) and will remain dedicated to decarbonization through the development and deployment of renewable energy projects. Nicole LeBlanc, acting President of PureSky, expressed enthusiasm about the partnership with Fiera Infrastructure and Palisade Infrastructure, stating the company’s commitment to expanding its platform to develop renewable projects that provide economic, ethical, and environmental benefits.
The consortium’s investment in PureSky aligns with the ongoing energy transition in the US, and the management team aims to extend the platform’s presence beyond existing markets. Both Fiera Infrastructure and Palisade Infrastructure are excited to support PureSky in its growth efforts, delivering solar energy and battery storage while fostering strong relationships with customers and local communities.
Amp Energy, the parent company, has witnessed significant growth in global markets, including the US, and Carlyle became a key equity investor in 2021. The company has consistently demonstrated its ability to build successful businesses through disruptive investment strategies at the forefront of the energy transition.
Fiera Infrastructure and Palisade Infrastructure will work together to support PureSky’s long-term strategy of developing, owning, and operating a growing portfolio of renewable projects. The aim is to bring the financial and economic benefits of solar generation and battery storage to communities across the US, including low-to-moderate income households and housing authorities. Furthermore, PureSky’s existing portfolio of operating and under-construction projects is projected to reduce approximately 171,000 tonnes of CO2 annually by 2024.
Macquarie Capital served as the financial advisor and DLA Piper LLP US as the legal advisor to Fiera Infrastructure and Palisade Infrastructure in the transaction. KeyBanc Capital Markets acted as the financial advisor, and Milbank served as the legal advisor to Amp Energy.
