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AMARENCO

15.3.2023 08:34:39 CET | Business Wire | Press release

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Amarenco Raises 300 Million Euros to Support Its Growth as a Solar IPP and Storage Energy Player

Amarenco, a Franco-Irish company specialising in photovoltaic energy, has just completed a new round of capital raising for 300 m€. This latest round allows Arjun Infrastructure Partners, to acquire a minority stake in Amarenco. Arjun Infrastructure joins, alongside a pool of investors from the Crédit Agricole Group1, Tikehau Capital2, an alternative asset management group, which has made a significant contribution to Amarenco's growth since 2020.

Why this third round of financing 3 years after the first?

With uninterrupted growth every year since its creation, Amarenco Group has the capacity, thanks to this third round of capital raising, to take another important step towards achieving its objectives; In particular, in terms of ecosystem regeneration, by initiating, for example, the first micro-forest and soil regeneration projects (to produce regenerative energy) in 2023, or by successfully implementing energy storage systems such as the flagship 100 megawatt-hour "Claudia" project.3

More generally, this new round of financing will make it possible to fund the company's development ambitions over the coming months/years:

- Converting its multi-GW projects into assets across all of its geographies over the next 3 years

- Continue to expand across all of its 3 strategic pillars, i.e. solar, energy storage and agripv infrastructures, with a particular focus on corporate offtakers by supporting them in achieving their net carbon ambitions and long term power price hedging strategies across their sites all their geographies.

As part of this fundraising, Julian Skinner and Romain Py from Arjun Infrastructure join Amarenco's board of directors, which also includes Mathieu Badjeck and Pierrre Abadie, co-heads of Tikehau Capital's Private Equity Energy Transition practice.

1 IDIA Capital Investissement, Sofilaro, Grand Sud Ouest Capital and Nord Midi-Pyrénées Développement

2 Tikehau Capital has been a shareholder of Amarenco since 2020 through its European private equity strategy “T2 Energy Transition Fund” dedicated to ecarbonization.

3 The “Claudia” project is a lithium-ion battery storage project with a capacity of 105 MW / 98 MWh, located on industrial wasteland in Gironde (33)

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