AMP Solar Group

About

AMP is a global developer of flexible clean energy infrastructure. We build, own and operate clean energy assets both behind and in-front of the meter. Our solutions, managed by proprietary, technology-enabled risk management tools, allow us to provide dispatchable, affordable and resilient clean power to enhance system reliability and security for our customers and the grid. Based in Canada, with operations in North America, Japan, India and Australia, our international team brings deep expertise and thought leadership to every aspect of the energy industry. -Linked In.

“Amp was founded on the belief that the future of power markets will increasingly be defined by resilient, responsive and affordable distributed generation and storage.

Today, Amp builds, owns and operates clean energy assets both behind and in front of the meter. Amp’s solutions, managed by proprietary, technology-enabled risk management tools, allows Amp to provide dispatchable, affordable and resilient clean power to enhance system reliability and security for our customers and the grid.

Based in Canada, with operations in North America, Japan, India and Australia, Amp’s international team brings deep expertise and thought leadership to every aspect of the energy industry.

Since Amp’s inception, it has grown a portfolio of over 1GW of distributed generation and utility scale energy projects”. – Website

BDC Credit Reporter View

5/30/2019: Hard to get our arms round the back story at privately owned Canadian solar company AMP Solar, in which AINV holds shares with a cost of $10mn, and which are currently discounted by a third. With funding from a third party lender, the company is reportedly looking “to continue the development, acquisition and build out of clean energy infrastructure assets in its core markets”, based on the October 11, 2018 article in the Corporate Highlights section. The good news is that the valuation of investment has increased from early 2016, when AMP was discounted by 90%. The bad news is that the company seems to generate no income and there is no gain and no end in sight for this long standing stake. The amount at risk,though, is modest (0.8% of AINV net assets). We have rated AMP a CCR 3, due to the positive valuation uptrend.

Highlights

IQ 2019: AINV has $10mn invested in common shares, with a value of  $6.2mn. The investment is non-income producing currently. [AINV 10-K FY 2019]