Carlyle Makes $374 Million Commitment to Global Energy Transition Platform Amp Energy

WASHINGTON and TORONTO, Jan. 6, 2021 /PRNewswire/ - Global investment firm The Carlyle Group (NASDAQ: CG) today announced a strategic growth investment through a $374 million commitment to Amp Solar Group, Inc. ("Amp Energy" or the "Company"), a Canadian-based global energy transition platform.

Amp Energy is a global renewable energy infrastructure manager, developer and owner. Since 2009, the Company has successfully developed over 1.8 gigawatts of distributed and utility-scale renewable generation projects, hybrid generation plus storage projects, and stand-alone battery storage projects around the world. Amp Energy's proprietary digital energy platform, Amp X, also provides a diverse portfolio of disruptive and interoperable solutions, including a state-of-the-art smart transformer, that enable real-time autonomous management and optimized dispatch of all forms of distributed generation and loads across the grid. The Carlyle investment will help catalyze the continued rapid growth of both Amp's asset base and Amp X within its core markets of North America, Japan, Australia, Iberia and the UK.

Pooja Goyal, Head of Carlyle's Renewable and Sustainable Energy team and Co-Head of Carlyle's Infrastructure group said, "This transaction demonstrates Carlyle's continued focus on identifying and executing upon attractive investment opportunities such as solar projects and battery storage technologies around the world that are being propelled by the energy transition. We see significant value in working with proven management teams through differentiated development platforms with significant global reach such as Amp Energy."

Dave Rogers, President and CEO of Amp Energy said, "We are pleased to partner with Carlyle, a world-class investment firm that truly understands and values our growth vision. This investment validates Amp's position as a leading global energy transition platform, and we believe Carlyle's extensive global experience and network will help expedite our growth strategies to accelerate the energy transition around the world."

Equity capital for the transaction has been committed from Carlyle's Global Infrastructure Opportunity Fund and Carlyle's Renewable & Sustainable Energy Fund.

About The Carlyle Group
The Carlyle Group (NASDAQ: CG) is a global investment firm with deep industry expertise that deploys private capital across four business segments: Corporate Private Equity, Real Assets, Global Credit and Investment Solutions. With $230 billion of assets under management as of September 30, 2020, Carlyle's purpose is to invest wisely and create value on behalf of its investors, portfolio companies and the communities in which we live and invest. The Carlyle Group employs more than 1,800 people in 30 offices across six continents. Further information is available at www.carlyle.com. Follow The Carlyle Group on Twitter @OneCarlyle.

About Amp Energy
Amp is an energy transition platform company. Founded in 2009, Amp has become one of the leading global renewables companies having successfully developed over 1.8 gigawatts of distributed and utility-scale renewable generation projects, hybrid generation plus storage projects, and stand-alone battery storage projects around the world alongside a further 2.0 GW and 2.2 GWh of assets in late-stage development or construction. With the addition of Amp X, its fully-integrated digital energy platform, Amp has emerged as a differentiated and unique global energy transition platform. Based in Toronto, Canada, with operations throughout North America, Japan, Australia, India, the UK, Iberia and Czech Republic, Amp's international team brings deep expertise and thought leadership to every aspect of the energy industry. Further information is available at amp.energy.

SOURCE Amp Energy