Prudential unit Infracapital and Amarenco have established a joint venture to invest in renewable energy projects across the UK, Ireland and France.
Amarenco Infracapital Renewable Investments has a strong pipeline of projects and expects to invest in about 100MW per year, the partners said.
The new venture has made its first investment in three solar parks in France with a total capacity of 75MW.
It has exclusivity over Amarenco’s share of early development projects in the three countries and will also be able to source deals from third parties.
Amarenco was founded back in 2013 by former Bord Gais chief executive John Mullins to invest in solar power projects.
Infrastructure investor Infracapital is part of M&G Investments, the European investment management arm of UK insurer Prudential.
“The partnership will enable Amarenco to continue to develop our assets and the significant pipeline we have in place,” chief executive John Mullins said.
“With the financial support, sector experience and credibility of Infracapital, we can now move forward and pursue significant further renewable opportunities of scale in multiple markets.”
Image: SXC
Amarenco JV unveils Euro vision
Link up with Infracapital to buy 100MW of renewables projects a year
By EBS