Amaranto sets up Indian solar investment arm, acquires 110MW project

Facebook
Twitter
LinkedIn
Reddit
Email
The new arm named Amaranto Solar Power India aims to raise US$100 million in the first half of 2017. Credit: Amaranto

Italy-based renewable energy firm Amaranto Group has launched an investment vehicle dedicated to acquiring PV projects in India and has secured exclusive rights to purchase a 110MW solar project in the West of the country for around US$80 million.

The new arm named Amaranto Solar Power India aims to raise US$100 million in the first half of 2017, with a further US$200m by year end. It is targeting the acquisition of 500MW by around 2018.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

For the 110MW plant, which was tendered by the Solar Energy Corporation of India (SECI), Amaranto will act as general contractor via its own EPC company Energia Prima. It will also act as co-investor and industrial operator of the plant providing O&M and asset management activities.

The new Indian vehicle is sponsored by London-based Amaranto Global Asset Management (GAM) and will be headed by Rodolfo Bigolin, the firm’s managing partner and chief executive.

Bigolin told PV Tech that the firm has another 200MW of projects under due diligence. Its aim is to participate in tenders, go into private power purchase agreements (PPAs), and acquire third-party developments.

Antonello Amoroso, Amaranto Group CEO and founder, said: “This is another big step forward in our global expansion; many others will follow in the near future. In an always challenging market, boldness and the perseverance always rewards the best projects.”

Amaranto has been active in India since 2016 through a joint venture with CPEC Energy with offices in New Delhi, aiming to develop and build 500MW of solar PV projects in various Indian states over the next three to four years.

Read Next

August 6, 2025
The Indian Ministry of New and Renewable Energy (MNRE) has published the approved list of models and manufacturers (ALMM) for solar cells, which contains 13GW of annual nameplate capacity across six manufacturers.
August 6, 2025
Renewables asset owner Brookfield Renewable has acquired 19.7% indirect equity stake in US regional energy utility Duke Energy’s Florida portfolio.
August 4, 2025
Indian solar PV module manufacturer Vikram Solar will supply 250MW of n-type modules to Bondada Group for its solar project in Maharashtra.
August 4, 2025
Waaree Energies has commissioned a 1.8GW solar module manufacturing line at its factory in Chikhli, Navsari district, Gujarat.
Premium
August 1, 2025
Sustained private investment into UK solar is starting to produce results, at least with regard to the role of solar power in its energy mix.
August 1, 2025
Dutch pension fund APG has agreed to provide Octopus Australia with AU$1 billion to support its solar, wind, and BESS portfolio.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines