IPP Amarenco raises €300 million for solar, energy storage and agrovoltaics pipeline

By Simon Yuen
March 17, 2023
LinkedIn
Twitter
Reddit
Facebook
Email

Independent power producer Amarenco has purchased a 90% stake in PV developer Infram from investment company M&G’s infrastructure equity investment arm Infracapital.

Both Amarenco and Infracapital agreed on a joint venture (JV) in January 2017 with a 19MW operational project and two seed projects, with 25MW combined, in the late stages of construction. According to Infram, it constructed a portfolio of 220 sites with a capacity of over 125MW from an initial operational portfolio of 19MW.

Infram focuses on building roof-mounted PV solar panels placed on top of newly-built barns and greenhouses to be used by local French farmers. Infracapital invested in Infram through Infracapital Greenfield Partners I (IGP I), with a strategy of building, delivering and operating essential greenfield infrastructure.

“Infram has an important role to play in providing affordable and clean renewable energy to address growing energy demands and reduce CO2 emissions. We look forward to seeing the business’s further expansion under Amarenco and Infram’s management team over the coming years,” said Michele Armanini, greenfield managing director of Infracapital.

This article requires Premium SubscriptionBasic (FREE) Subscription

Enjoy 12 months of exclusive analysis

Not ready to commit yet?
  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Annual digital subscription to the PV Tech Power journal
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

Apart from this transaction, Amarenco has also raised €300 million (US$317.75 million), which enabled asset management firm Arjun Infrastructure Partners to acquire a minority stake in the company.

The new round of financing will help Amarenco expand its solar, energy storage and agrivoltaic infrastructure, focusing on corporate offtakers by collaborating with them to achieve their net carbon ambitions and work on their long term power price hedging strategies.

This story first appeared on PV Tech.

24 February 2026
InterContinental London - The O2, London, UK
This isn’t just another summit – it’s our biggest and most exhilarating Summit yet! Picture this: immersive workshop spaces where ideas come to life, dedicated industry working groups igniting innovation, live podcasts sparking lively discussions, hard-hitting keynotes that will leave you inspired, and an abundance of networking opportunities that will take your connections to new heights!

Read Next

October 30, 2025
Victoria’s home battery energy storage programme has supported the installation of approximately 20,000 residential energy storage systems, doubling its original target of 10,000 units, according to the state’s climate action minister, Lily D’Ambrosio.
October 29, 2025
IPPs Greenvolt and European Energy have finalised financial deals for solar-plus-storage projects in Denmark and Latvia, while Olana and Energix have enlisted optimisers for BESS projects in Lithuania and Poland, respectively.
October 29, 2025
Daiwa Energy & Infrastructure (DEI), an asset manager backed by investment bank Daiwa Securities, has invested in a large-scale battery storage project in northern Japan.
October 27, 2025
The Emirati state-owned renewables developer Masdar has begun construction on a giant solar-plus-storage project in Abu Dhabi.
October 24, 2025
Peregrine Energy Solutions has secured US$130 million from investors including the South Korean Ministry of Environment.

Most Popular

Email Newsletter