Amarenco acquires French renewable energy developer Groupe Carré

Facebook
Twitter
LinkedIn
Reddit
Email
The new team of Amarenco France. Credit: Amarenco

Irish IPP Amarenco has acquired French renewable energy developer Groupe Carré, creating a new entity named Amarenco France.

Amarenco, which has experience in acquiring, owning and operating renewable energy assets, has already invested more than €300 million in its renewable energy portfolio in France. This includes 75MW of operational PV in France.

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

The firm had entered into a strategic collaboration agreement with Groupe Carré last year to gain from the French firm’s asset management, development and O&M skills. Groupe Carré also has expertise in solar lighting.

Alain Desvigne, Amarenco’s chairman, said: “After such a successful initial collaboration, this acquisition was our next logical step. Over the months, we have developed a deep understanding of our respective strengths and we now have a clear idea of how to leverage our synergies to launch a path of fast growth. Together, we can become involved in an increasingly large number of projects, at any stage of their development, everywhere in France.”

Olivier Carré, former president of Groupe Carré and Amarenco France’s new CEO, said: “For the last 10 years, we have collaborated with farmers, local authorities and businesses to deliver a vast array of high quality PV installations. From our clients’ perspective, this acquisition will offer the increased safety of having a partner with extremely firm foundations, as well as give them access to a turnkey PV and wind energy project installation offering.” 

Last week, France announced plans to invest €20 billion in its own energy transition plan to increase clean energy deployment by 70% over five years, while it has also moved to reduce connection costs for smaller-scale renewables by up to 40%.

Read Next

July 16, 2024
French renewable energy firm GreenYellow has signed an agreement with supermarket giant Carrefour to install over 350MW of solar canopies above the latter’s car parks across France.
July 15, 2024
The French government has awarded 179MW of solar PV in its most recent rooftop solar PV tender, half of the previous auction.
July 10, 2024
The US generated 236.12TWh of power last year, while in Germany over 12% of power was produced by solar, the highest among all G7 countries.
July 9, 2024
Aggreko Energy Transition Solutions, a division of power generation equipment supplier Aggreko, has acquired US-based commercial and industrial solar company Infiniti Energy from private equity firm Upper Bay Infrastructure Partners.
Premium
July 3, 2024
Demand for new solar projects and the falling cost of manufacturing could present an opportunity for European developers, such as Holosolis.
July 2, 2024
Carbon has announced plans for its next facility, a research and development (R&D) and training facility in Istres, southern France.

Subscribe to Newsletter

Upcoming Events

Upcoming Webinars
July 31, 2024
1:00 PM (BST) / 2:00PM (CEST)
Solar Media Events
September 24, 2024
Warsaw, Poland
Solar Media Events
September 24, 2024
Singapore, Asia
Solar Media Events
October 8, 2024
San Francisco Bay Area, USA