Global Fund Deals Out $165 Million For More US Solar Power Plants, More Quickly

The sharp U-turn in federal energy policy this year has not changed the facts on the ground. Solar is the fastest, cheapest way to meet the surging demand for electricity in the US. No amount of misdirection and partisan political maneuvering can change the math. Else why would one of the world’s leading infrastructure funds place a new $165 million bet on the demand for new solar power plants in the US…

A New Joint Venture Made A Big Bet On Solar Power In 2022

To be clear, clean energy industries in the US have been crippled by this year’s uptick in partisan self-dealing, fallout from new tax policies, and a souring economy. Still, the groundwork has already been laid for long term growth. Clean power projects continue to slip through the gauntlet, building up the conditions for a rebound after January 20, 2029, when the current occupant of the White House (or what remains of it) is scheduled to leave office — peacefully this time, one hopes.

Take the Pennsylvania-based company Ampliform, for example. Ampliform launched in September 2022 as a joint venture between the solar developer Prospect14 and partners, with the aim of accelerating the market for utility scale solar power while filling the demand for energy storage, too.

Ampliform seemed like a pretty safe bet back in 2022. The launch was announced one year after passage of the renewables-friendly 2021 Bipartisan Infrastructure Law, and just a few weeks the 2022 Inflation Reduction Act became law, too.

“Ampliform is backed by a significant equity commitment from a consortium of investors led by the Jones Family Office, alongside Barings, the George Kaiser Family Foundation, and others,” Ampliform said of itself in a press release dated September 14, 2022.

As noted by Ampliform, the new joint venture was front-loaded with senior managers with a background in wholesale power markets and power plant optimization. “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,” the company explained.

The Bet Is Still Paying Off In 2025

The other end of the joint venture was also looking forward to a successful partnership. “We’re partnering with Prospect14 on this joint venture because they have built a unique platform with a track record of using data-driven methods to site and develop solar + storage projects at scale in the nation’s most competitive energy markets,” explained Brad Romine, a partner in the firm Greens Ledge Renewable Partners.

Considering the supportive public policy environment of the time, it’s little wonder that Ampliform had a 3-gigawatt project pipeline in hand at launch. With construction starting in 2023, the company was already anticipating a total of 10 gigawatts by 2025.

The policy environment for renewable energy investing certainly has changed since 2022. Ampliform did push its timeline back, but as of this week the company’s website sill lists 800 megawatts in PJM projects slated for construction between this year and 2028, with 5 more gigawatts in the pipeline towards the original 10-gigawatt goal [PJM stands for Pennsylvania, (New) Jersey, and Maryland, the first three states in a grid operator territory that now spans a total of 13 states plus Washington, DC].

Things are about to get a lot more interesting around Ampliform headquarters. On October 21, the company announced the close of a $165 million loan facility from the leading investment firm Copenhagen Infrastructure Partners, in support of its near-term PJM projects.

PJM is just for starters. With the CIP wind in its sails, Ampliform anticipates ramping up activity all along its project pipeline in other grid territories around the US. “Securing this capital provides us with additional resources to significantly accelerate our growth,” explained Ampliform founder and CEO Carl Jackson in a press statement, drawing attention to the company’s “robust pipeline across PJM, MISO, NYISO and other markets.”

Green Funds Are Coming For Your Fossil Fuels

Loan facilities are financial instruments that enable a developer to repay and borrow again for a period of time specified in the loan, helping to de-risk a series of projects while saving the time and expense of applying for new financing with each one.

The Ampliform loan facility is just the tip of a much larger energy transition spear under the wing of CIP. CIP arranged Ampliform’s financing through its its new Green Credit Fund I (CI GCF I), which launched in 2022 with a startup nest egg of €320 million. In just one year the fund topped out at €1 billion, closing in August of 2023.

“Copenhagen Infrastructure Partnersʼ new Green Credit Fund is providing a new source of financing for the renewable energy sector,” CIP explains. “It enables companies to develop their businesses while providing CIP investors with access to a different part of the capital structure in renewable energy projects, compared to its other funds.”

As of October this year, CIP committed the fund to 10 investments, accounting for more than 90% of the funds. Not letting the grass grow under its feet, in August CIP launched a second iteration of the Green Credit Fund. The new effort started off with seed funding of €700 million, far exceeding the launch of the first fund.

“With strong momentum from GCF I, GCF II launched at the end of August 2025 with over EUR 700 million from cornerstone investors, focused on debt financing for late-stage, greenfield energy infrastructure projects across OECD markets,” CIP explains, referring to the Organization for Economic Co-operation and Development.

Next Steps For Solar Power In The US

That’s…interesting! Despite the abrupt shift in federal energy policy, both wind and solar power continue to seep into the US grid, and a whole world full of global renewable energy investors are eager to pick off low hanging fruit in the US market.

In terms of wind and solar power opportunities for sustainability-centered investors, the 37 nations that make up the OECD — including the US — are ripe indeed.

The US Department of State reminds everyone that OECD is a powerful economic engine:

“OECD member countries account for three-fifths of world GDP, three-quarters of world trade, over 90 percent of global official development assistance, half of the world’s energy consumption, and 18 percent of the world’s population.”

“…the OECD helps the United States and its partners reap the benefits and confront the challenges of a global economy by promoting sound economic policies, freer markets, more efficient use of resources, and better innovation through science and technology,” the State Department emphasizes.

As for the near-term future of solar power in the US, that depends partly on the results of the all-important 2026 mid-term elections. If you have any thoughts about that, drop a note in the comment thread. Better yet, find your representatives in Congress and let them know what you think.

Cover photo: By CleanTechnica