Ampyr Solar Europe (ASE), a solar and battery storage developer, has sold a 49% stake in its 157 MW Elsterheide solar and battery storage project in Saxony, Germany, to Daiwa Energy & Infrastructure (DEI), a Japanese investment company and wholly owned subsidiary of Daiwa Securities Group.

ASE will retain the remaining 51% stake and continue to operate and manage the project. Under the agreement, ASE will develop projects, bring them into operation, and manage them throughout their operational lives, while DEI will participate as a long-term investment partner during the operational phase.

The recently commissioned Elsterheide project comprises a 157 MW solar photovoltaic plant and an 80 MWh battery energy storage system.

ASE developed the project in-house. Initially planned as a 20 MW solar installation, the project was subsequently expanded to cover more than 130 hectares across the adjoining municipalities of Elsterheide and Hoyerswerda. The company later integrated an 80 MWh battery storage system and secured an import grid connection in addition to the existing export capacity.

The project has multiple revenue arrangements, including a long-term power purchase agreement covering 120 MW of solar capacity, a battery storage optimization tolling contract, and a Guarantees of Origin sale agreement. An additional 40 MW of solar capacity receives support under Germany’s Renewable Energy Sources Act (EEG).

ASE provided equity support for the project’s construction, while NORD/LB provided debt financing through an existing framework financing facility with ASE.

In 2024, the company closed an up to £200 million (~$253.33 million) project finance facility with NORD/LB, a German-based commercial bank, to develop and construct a 400 MW solar project in the UK.

According to Mercom’s 1H and Q2 2026 Solar Funding and M&A report, approximately 25.2 GW of solar projects were acquired in the first half of 2026, compared to 19.9 GW in the first half of 2025.