Solar power producer Amarenco Group has raised €150 million ($177 million) to fund the company’s growth in Europe, Asia Pacific and the Middle East markets.
The company began fundraising at the beginning of the year, seeking an investment capacity of €3 billion ($3.6 billion). Amarenco’s co-founders subscribed to the capital raise, and were joined by IDIA Capital Investissement and Tikehau Capital, which became a key shareholder of Amarenco Group via a large capital contribution.
“This new capital commitment will contribute to Amarenco’s ambitions to have more than 1 gigawatts of projects under construction in the coming months and 3 gigawatts by 2023 in Europe, APAC and Middle East,” said Amarenco’s co-founders Olivier Carre, Nick Howard, John Mullins and Alain Desvigne in a joint statement.
Amarenco expects to have more than 1 gigawatts of projects under construction during 2021 as a result of its M&A activity in Iberia and Asia Pacific and