Amp Solar Group Funding, Investors & Competitors

Amp Solar Group has raised $528M across 2 funding rounds, most recently a $374M undisclosed-stage round in January 2021.

Last Amp Solar Group funding round

$374M

Undisclosed stage · Jan 2021

Cumulative funding Amp Solar Group raised

$528M

across 2 funding rounds

Key investors in Amp Solar Group

Amp Solar Group Overview

About Amp Solar Group

Amp Solar Group is an Australia-headquartered developer of clean energy projects. The company builds, owns, and operates solar assets behind-the-meter for commercial sites and grid-scale farms in New South Wales and Victoria. Proprietary software manages dispatchable power to utilities and end-users.


Founded

2009

HQ

CanadaToronto

Website

amp.energy

Status

Privately held

Customer focus

B2B

Revenue model

Usage-based

Amp Solar Group Funding History

Amp Solar Group has raised a total of $528M across 2 funding rounds.

Amp Solar Group's first fundraising round was a $154M undisclosed-stage round in October 2018. The most recent completed round was a $374M undisclosed-stage round in January 2021.

Amp Solar Group funding rounds

Amp Solar Group funding rounds
DateStageInvestorsRaisedDeal Summary
Jan 2021Undisclosed stageCarlyle Group (lead)$374MAmp Solar Group (Amp Energy), a Canadian-based global renewable energy infrastructure manager, developer, and owner founded in 2009, received a $374 million strategic growth investment commitment from The Carlyle Group in January 2021. The equity capital came from Carlyle’s Global Infrastructure Opportunity Fund and Renewable & Sustainable Energy Fund, led by Carlyle. Amp Energy has developed over 1.8 GW of distributed and utility-scale renewable generation projects, hybrid generation plus storage projects, and stand-alone battery storage projects worldwide, with an additional 2.0 GW and 2.2 GWh in late-stage development or construction. The investment aims to support Amp Energy’s expansion in core markets including North America, Japan, Australia, Iberia, and the UK, particularly growing its asset base and proprietary digital energy platform Amp X, which enables real-time autonomous management and optimization of generation dispatch. Amp Energy also offers a fully integrated digital power platform including a state-of-the-art smart transformer. The partnership validates Amp’s position as a leading global energy transition platform, with Carlyle highlighting opportunities in solar projects and battery storage technologies. Dave Rogers, President and CEO of Amp Energy, noted the alignment with Carlyle’s global experience to accelerate growth strategies. Pooja Goyal, Head of Carlyle’s Renewable and Sustainable Energy team, emphasized value in Amp’s differentiated development platform with global reach.
Oct 2018Undisclosed stageZoma Capital (lead)$154MAmp Solar Group, a leading global developer of flexible clean energy infrastructure, closed a C$200 million financing round on October 11, 2018, led by Zoma Capital to fund continued growth through development, acquisition, and build-out of clean energy assets in core markets including Canada, UK, and India. The financing supported new development projects and was equivalent to approximately USD 153 million. Amp had developed around 700 MW of solar power projects by mid-2019, primarily in Canada and the UK, often as a minority partner in joint ventures such as with the Apollo group. Following the Zoma-led round, Amp entered an equity investment agreement with CBRE Caledon, which committed CAD 600 million to the group, with initial deployments including CAD 40.5 million for Indian projects via AMPSolar Ventures and CAD 28.30 million through Cluster I developments. In India, the platform executed about 89.72 MW out of a 141.44 MW portfolio by April 2019 and 97.44 MW by 2020. The group planned additional capacity like 360 MW under Cluster II, with 8.50 MW operational and 312 MW under construction, plus Cluster III for rooftop solar.

Who has invested in Amp Solar Group?

2 investors have backed Amp Solar Group across its funding rounds, including Carlyle Group and Zoma Capital.

Lead investors include Carlyle Group and Zoma Capital.


Amp Solar Group Investors

Investors in Amp Solar Group by funding rounds participated
InvestorHQRoundsRoleFirst check

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Amp Solar Group Competitors

Amp Solar Group competitors include listed companies like Iberdrola, China Yangtze Power, Constellation Energy and Cenovus Energy, and private ones like Adani New Industries and Helion Energy.

Public and private companies comparable to Amp Solar Group
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
IberdrolaSpainSpainPublicly listed$51B$17B$158B4.3x
China Yangtze PowerChinaChinaPublicly listed$13B$11B$104B11.3x
Constellation EnergyUnited StatesUnited StatesPublicly listed$26B$5B$93B3.8x
Cenovus EnergyCanadaCanadaPublicly listed$38B$7.3B$61B1.6x
Adani New IndustriesIndiaAhmedabadPrivate--$50B-
Helion EnergyUnited StatesSeattle, WAPrivate--$16B-

Amp Solar Group Public Comps

Amp Solar Group is still privately-owned, but its public comps include Aramco, ExxonMobil, Chevron, PetroChina, Shell, GE Vernova, TotalEnergies, NextEra Energy, ConocoPhillips and Iberdrola.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Aramco$446B$213B3.9x3.7x8.2x7.1x
ExxonMobil$324B$68B2.2x1.8x10.5x8.0x
Chevron$184B$41B2.4x2.0x10.8x7.2x
PetroChina$427B$70B0.8x0.7x4.7x4.4x
Shell$267B$55B1.2x1.0x5.8x4.5x
GE Vernova$38B$3.2B6.2x5.4x73.5x43.5x
TotalEnergies$182B$38B1.3x1.2x6.3x5.0x
NextEra Energy$27B$16B10.5x9.6x17.9x16.2x

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Common questions about Amp Solar Group

When was Amp Solar Group founded?Amp Solar Group was founded in 2009.
Where is Amp Solar Group headquartered?Amp Solar Group is headquartered in Toronto, Canada.
Is Amp Solar Group publicly listed?No, Amp Solar Group is a private, VC-backed company.
How much funding has Amp Solar Group raised?Amp Solar Group has raised $528M across 2 funding rounds.
What was Amp Solar Group's last funding round?Amp Solar Group's last funding round was a $374M undisclosed-stage round in January 2021, led by Carlyle Group.
Who are Amp Solar Group's investors?Amp Solar Group's investors include Carlyle Group and Zoma Capital.
Which companies are comparable to Amp Solar Group?Companies comparable to Amp Solar Group include Iberdrola, China Yangtze Power, Constellation Energy, Cenovus Energy, Adani New Industries and Helion Energy.

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