Impartial Franco-Irish group Amarenco, a producer of inexperienced vitality on three continents, has acquired Jordan’s main renewable vitality firm Spectrum Worldwide to strengthen its presence within the Center East and North Africa .
The corporate can be rebranded as Amarenco Jordan after the acquisition because it turns into the principle platform for the MENA division of Amarenco in Jordan, which has set a goal capability of 200 MW by means of this newest acquisition. – declare.
Amarenco additionally acquired all of Spectrum’s present and pipeline tasks. The Amman-based firm has developed a number of photo voltaic tasks in Jordan for industrial and industrial customers underneath the build-operate-transfer mannequin, the place a non-public firm builds and operates a solar energy plant in a sure time frame. After the development and operation interval, possession and management of the mission can be transferred to the federal government or one other designated proprietor.
The acquisition follows a €300 million ($329.4 million) funding that Amarenco acquired from Arjun Infrastructure Companions in March.
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