Fiera Infrastructure, an affiliate of Fiera Capital Corp, and Palisade Infrastructure Group, have teamed up to buy 100% of the equity interests in Amp US Primary Holdings, a Denver-based renewable energy generation and battery storage business from Amp Solar Group, a Canadian-based global energy transition platform.

Financial details of the transaction were not made available. The transaction is expected to close next month.

Since entering the US market in 2016, Amp US has developed, owned and operated US community solar and energy storage projects. Its portfolio comprises 200MW of generation capacity across 39 operating or under-construction projects expected to be operational in the “short term,” according to the company.

With the acquisition of Amp US, Palisade Infrastructure Group’s portfolio of renewables capacity will increase to more than 1.8GW. This marks the company’s third North American investment, according to Mike Reynolds, Americas managing director at Palisade Infrastructure.

“We believe community solar is one of the most attractive segments of the US renewables market and this investment allows us to leverage our strong existing expertise in the broader renewables sector,” said Reynolds.

Community solar in the US is expected to more than double over the next five years, benefiting from the Inflation Reduction Act.