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News
March 3rd, 2008, Boston, MA: Ampersand Energy Partners today announced the formation of a new subsidiary to pursue development of a solar project in California. The project will consist of 10 to 20 MW generated from solar photovoltaic panels. “The formation of Ampersand El Nido Solar reflects both Ampersand’s renewables focus and the fund’s persistence in pursuing optimization of existing sites,” notes Steven Carew, project manager. “The project is in our sweet spot with regards to investment size, and will be co-located with Ampersand’s existing biomass facility at El Nido.” Ampersand expects to be able to capitalize on its existing relationships with local utilities and the development team already in place in California to pursue the project to successful completion. The project is expected to be completed in stages during 2008 and 2009. Ampersand Energy Partners is a Boston-based private equity fund specializing in late stage development and acquisition of small renewable power projects.
December 17th, 2007 Boston, MA: Ampersand Energy Partners (“Ampersand”) today launched the continued sale of units of its Ampersand North American Hydro Fund II (“Fund II”). Fund II has the potential to provide investors with growth with income through its acquisition and development of small hydro facilities. These environmentally friendly facilities benefit from low marginal operating costs, well understood technology, and the potential for additional revenues from the sale of renewable energy credits. Ampersand emphasizes that the units have not been registered or approved by any government authority, and should only be considered for purchase by experienced investors who can afford to lose their entire investment. Investors will be required to fill out an accredited investor questionnaire and to review detailed offering information prior to investing. A teaser is available by clicking on the link below; upon receipt of a signed confidentiality agreement, Ampersand will provide prospective investors with a confidential information memorandum for Fund II. A teaser is available by clicking on the link below; upon receipt of a signed confidentiality agreement, Ampersand will provide prospective investors with a confidential information memorandum for Fund II. Ampersand affiliate purchases hydro station in New England December 4th, 2007, Boston, Massachusetts: Ampersand Energy Partners today added to its growing portfolio of renewable energy facilities with the purchase of a small hydro station. The facility, located in Maine, was purchased by a subsidiary of Ampersand North American Hydro Fund II. Ampersand Fund II focuses on the acquisition of existing small hydro stations and the licensing and construction of new small hydro stations. “We’re very pleased to add this generating station to our fleet,” said Ampersand president A.J. Goulding. “Ampersand officers Gilan Sabatier and Keiko Nomura have been working diligently on this transaction for several months.” Goulding noted that Ampersand is actively pursuing additional small hydro acquisitions in the Northeast. Ampersand expects that with its superior market knowledge, it will be able to fully optimize revenues from these plants by selling forward energy, capacity, and renewable energy certificates when appropriate. Ampersand Energy Partners is a growing Boston-based private equity fund manager focused on small capitalization power sector projects. Ampersand unit closes on $26 million construction financing for California projects Global Ampersand, wholly owned by Ampersand California Biomass Fund I, closed today on $26 million in construction financing related to the restart of two biomass-fired generation facilities in California. The facilities, which could begin operating as early as September of 2007, have long term power purchase agreements with Pacific Gas and Electric. Refurbishment is being carried out by Crown Engineering, which has been active on site for several months already. Operations will be managed by North American Energy Services (NAES). Ampersand Energy Partners will serve as asset manager. Says Ampersand president A.J. Goulding, "We are pleased to have reached this milestone towards a successful and profitable restart of these environmentally friendly facilities. This achievement highlights the depth of our development team, particularly the talents of COO Eric Shumway and owner's representative Ben Grunfeld. Both have done a tremendous job to date and continue working towards facility completion." Ampersand Energy Partners is a Boston-based private equity fund specializing in providing late stage development capital to small electricity generation projects, particularly those powered by biomass, solar, or hydro. Ampersand CalBio acquires controlling interest in two biomass facilities Ampersand California Biomass Fund I (CalBio) has increased its stake in Global Ampersand to 95%, and taken control of the project. CalBio formerly held 40.2%. Says Ampersand president A.J. Goulding, "We are pleased to continue our successful working relationship with Global Common in bringing these facilities into service." Global Common will continue to provide project management support as the restart continues. Global Ampersand controls development rights to two biomass plants in California totalling 25 MW; the plants are expected to return to service by July of 2007. sale of cogen and wind developer Ampersand principals participated in the sale of Tierra Energy to Energy Investors Funds. Tierra is a Texas-based wind developer which also has interests in small cogeneration plants. Ampersand principals realized returns in excess of 25% on their investments, and continue to hold an indirect minority stake in Tierra. short term biomass development funding Ampersand provided short term development funding to the developer of a set of biomass facilities in the Western United States. Pursuant to the terms of the development financing agreement, Ampersand upon reaching a triggering event was repaid in a timely fashion, resulting in returns to investors exceeding 50%. closing of Ampersand California Biomass Fund I Ampersand has successfully closed on the private placement of 1.5 million Class B shares in Ampersand California Biomass Fund I, a vehicle established to invest in biomass facilities in California. B share holders will participate in the profits from the target facilities until an internal rate of return of 25% is achieved; Ampersand expects to be able to structure transactions consistent with the investment objectives of B shareholders. formation of Global Ampersand Ampersand California Biomass Fund I has joined with experienced developer Global Common LLC to form Global Ampersand LLC. Global Ampersand is restarting two biomass facilities in California, both of which are expected to come on line before the end of 2007. Ampersand California Biomass Fund I owns 40.2% of Global Ampersand, and is an active participant in the ongoing development of the facilities. Global Common previously developed a 50 MW peaking facility on Long Island, and its principals have experience in operation of small power plants and in providing environmental services.
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