Infracapital agrees the sale of solar PV platform, Infram, to Amarenco

Infracapital and Amarenco first agreed on a joint venture in January 2017, with one operational project (19 MW) and two seed projects (25 MW combined) in late stages of construction. Infram focuses on building roof-mounted PV solar panels placed on top of newly-built barns and greenhouses to be used by local French farmers. Under Infracapital’s majority ownership, Infram has achieved a number of milestones:

• Constructed a stable yielding portfolio of 220 sites with a capacity of over 125 MW from initial operational portfolio of 19 MW.
• Implemented an effective governance structure to manage and grow the business, developing a predominantly local supply chain to reduce carbon footprint and supply miles.
• Secured long-term financing at attractive terms to support long-term sustainable growth of the business.
• Managed and grew a strong development pipeline of assets which currently stands at approximately 50.4 MW.
• Produced 131.5 GWh of clean energy over 2021, powering one million French households for over 131 hours and avoiding 6328 t of CO₂ emissions.

Infracapital invested in Infram through Infracapital Greenfield Partners I (IGP I). The strategy of IGP I is to build, deliver, and operate essential greenfield infrastructure to meet the changing needs of society and support long-term economic growth across Europe.

Michele Armanini, Greenfield Managing Director at Infracapital, said: “We are extremely pleased to have been a part of Infram’s significant growth into a fully operational, thriving business. Infram has an important role to play in providing affordable and clean renewable energy to address growing energy demands and reduce CO₂ emissions. We look forward to seeing the business’s continued success and further expansion under Amarenco and Infram’s management team over the coming years.”

John Mullins, Executive Chairman at Amarenco, said: “Amarenco has enjoyed an excellent partnership over six years with Infracapital and we are very pleased to complete this transaction and continue the growth of Infram Energy within Amarenco as an independent power producer. We look forward to executing the remaining development pipeline in France and contribute to the decarbonisation and security of the French electricity market.”

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