Amarenco completes $300 million capital raise

Franco-Irish photovoltaic energy company Amarenco has completed a $300 million capital raise with the aim of investing in the expansion of its solar and energy storage business.

The latest capital raise resulted in Arjun Infrastructure Partners acquiring a minority stake in Amarenco. Other investors include Crédit Agricole Group and Tikehau Capital.

Amarenco said the expansion of its solar and storage operations would have a particular focus on corporate off-takers by “supporting them in achieving their net carbon ambitions and long term power price hedging strategies across sites in all their geographies.”

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