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

July 17, 2025
Indian solar manufacturers are among the targets of a new petition filed by US producers alleging illegal trade practices by overseas firms.
Premium
July 17, 2025
Implementing greater policy clarity pertaining to the EPBD will be essential if Europe is to realise its distributed rooftop solar targets.
July 16, 2025
Planning uncertainty and policy instability regarding renewables in Queensland have seen it slip in investment attractiveness, with New South Wales now leading Australia.
July 15, 2025
Indian renewable energy company SAEL Industries is developing a 5GW solar cell and 5GW module manufacturing facility in Greater Noida, Uttar Pradesh.
July 11, 2025
Indian independent power producer (IPP) Juniper Green Energy has commissioned an additional 71MWp at Chapalgaon Solar Project in Solapur, Maharashtra.
July 9, 2025
Indian solar water pump and motor manufacturer Shakti Pumps has successfully raised INR2.9 billion (US$34.1 million) to build a solar cell and module manufacturing plant.

Subscribe to Newsletter

Upcoming Events

Media Partners, Solar Media Events
September 2, 2025
Mexico City, Mexico
Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 22, 2025
Bilbao, Spain
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK