Power company and investment firm team up on renewable energy

A new joint venture is preparing to invest in greenfield renewable energy projects and assets in Ireland, the UK and France.

Amarenco Infracapital Renewable Investments (AIRI) is a joint venture between infrastructure investment firm Infracapital and Irish renewable power company Amarenco.

The deal sees the Infracapital and Amarenco invest in an initial portfolio of three renewable solar projects in France, with a generating capacity of 75 megawatts (MW).

It expects to invest in around 100MW of projects per annum over the coming years, with exclusivity over Amarenco’s share of early development projects in the key regions of the UK, Ireland and France. It will also seek out deals with third-party developers, constructors and asset owners.

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“The launch of AIRI provides us with a platform to invest in the development of a portfolio of renewable projects and assets across Europe alongside Amarenco, a leading independent renewable energy power company.

“We have a healthy pipeline of investment opportunities underpinned by European governments’ support for renewable energy projects, and see significant scope to build out the platform,” said Infracapital’s greenfield director Andy Matthews.

“This transaction is indicative of our strategy to build scalable investment platforms with experienced partners to secure exclusivity over future pipelines, as we have done on our other greenfield investments,” he added.

Amerenco chief executive John Mullins said the partnership would enable the company to continue to develop its assets and pipeline they have in place.

“Furthermore, 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,” he said.