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- Amarenco
Amarenco Valuation, Funding & Investors
Amarenco is valued at $1.1B as of March 2023.
Last Amarenco valuation
$1.1B
Undisclosed stage · Mar 2023
Last Amarenco funding round
$325M
Undisclosed stage · Mar 2023
Cumulative funding Amarenco raised
$521M
across 3 funding rounds
Key investors in Amarenco
IDIA Capital Investissement
Tikehau Capital
Arjun Infrastructure Partners
About Amarenco
Amarenco is a Dublin-headquartered independent power producer specializing in solar photovoltaic projects. The company develops, finances, constructs, and operates utility-scale ground-mounted installations and commercial rooftops throughout France, Italy, Portugal, Spain, the United States, and Australia. Amarenco maintains a substantial development pipeline targeting key solar markets while leveraging its executive team's expertise from major energy firms in renewables infrastructure.
Founded
2013
HQ
Website
Status
Privately held
Customer focus
B2B & B2G
Revenue model
Usage-based
Valuation
$1.1B (Mar 2023)
Amarenco Valuation
Amarenco is currently valued at $1.1B, based on its undisclosed-stage round in March 2023.
The $325M round was led by Arjun Infrastructure Partners.
Amarenco valuation by funding round
| Date | Stage | Valuation |
|---|---|---|
| Mar 2023 | Undisclosed stage | $1.1B |
Amarenco Funding History
Amarenco has raised a total of $521M across 3 funding rounds.
Amarenco's first fundraising round was a $16M undisclosed-stage round in April 2020. The most recent completed round was a $325M undisclosed-stage round in March 2023.
Amarenco funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Mar 2023 | Undisclosed stage | Arjun Infrastructure Partners (lead) | $325M | $1.1B | Amarenco is a Franco-Irish renewable energy developer and independent power producer (IPP) focused on solar and energy storage projects, headquartered in Cork, Ireland. It has around 650MW of installed solar capacity and 94MW of storage, targeting over 1TWh of annual production in the next two years backed by more than 1GW of capacity, while transitioning to a fully integrated IPP model with recurring earnings from energy production and asset rotation. In 2025, Amarenco delivered more than 600 GWh of renewable electricity, equivalent to the consumption of about 125,000 homes. The company merged with French solar project designer Methode Carre in 2018 and has secured over €1bn from top-tier European institutions since early 2025, including a €300m junior holdco platform financing from Eiffel Investment Group in January 2025. Arjun Infrastructure Partners, which took a 30% stake in Amarenco in 2023, provided a €130m preferred equity tranche in March 2026 to support European growth, financial autonomy, solar farm and storage project development in Ireland and international markets, and a shift from organic growth to M&A consolidation. This funding, part of a capital increase with additional support from BNP Paribas, bolsters the balance sheet for international deals and clean energy transition efforts. Recent activities include signaling M&A ambitions post-2026 funding and prior collaborations like the eighth deal with Eiffel. |
| Nov 2020 | Undisclosed stage | Tikehau Capital (lead); IDIA Capital Investissement | $179M | - | Amarenco is a Franco-Irish independent power producer specializing in photovoltaic solar energy development and project management. The company, headquartered in Cork, Ireland, has operational hubs across Europe, the Middle East, and Asia-Pacific, including locations in France, Portugal, Austria, Oman, Singapore, Taiwan, Thailand, and Vietnam. By late 2020, Amarenco had completed more than 2,000 solar PV projects globally. In November 2020, Amarenco closed a €150 million capital increase comprising a share capital increase and equity line, with significant contributions from Tikehau Capital through its T2 Energy Transition Fund alongside co-founder participation and IDIA Capital Investissement. This funding was part of a broader €3 billion capital-raising process launched earlier in 2020 to support expansion across Europe, Asia-Pacific, and the Middle East while maintaining founder leadership. The capital was directed toward converting Amarenco's merger and acquisition pipeline into value-generating assets, with management projecting more than 1 GW of projects under construction in the near term and targeting 3 GW by 2023. The arrival of Tikehau Capital marked a decisive turning point in the company's development strategy, as the fund became a key shareholder alongside existing investors from the Crédit Agricole Group. |
| Apr 2020 | Undisclosed stage | IDIA Capital Investissement (lead) | $16M | - | Amarenco is a Franco-Irish independent power producer (IPP) specialising in photovoltaic solar energy and battery storage solutions across Europe. The company received investment from IDIA Capital Investissement in April 2020 as part of its early growth phase, alongside support from other investors in the Crédit Agricole ecosystem. By 2025, Amarenco had grown to deliver over 600 GWh of energy annually with 650 MW of installed solar capacity and 94 MW of storage batteries (188 MWh). The company later secured significant growth capital including €300 million in March 2023 led by Arjun Infrastructure Partners and €130 million in preferred equity in December 2025, totaling approximately €500 million raised since 2020. |
Who has invested in Amarenco?
3 investors have backed Amarenco across its funding rounds, including IDIA Capital Investissement, Tikehau Capital and Arjun Infrastructure Partners.
Lead investors include Arjun Infrastructure Partners, Tikehau Capital and IDIA Capital Investissement.
Amarenco Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 2 | Lead | Apr 2020 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by Amarenco
Amarenco has acquired 2 companies to date.
Last acquisition by Amarenco was on March 9th 2023. Amarenco acquired Infram Energy for undisclosed valuation.
Latest Acquisitions by Amarenco
| Description | Infram Energy is a joint venture between Infracapital and Amarenco Solar that focuses on acquiring and developing late-stage renewable energy projects including solar photovoltaic installations and battery energy storage systems across the United Kingdom, Ireland, and France. The platform manages a growing portfolio of operational assets and construction-ready sites to accelerate the energy transition for institutional investors. London-headquartered, Infram Energy partners with developers to provide flexible capital solutions for projects at ready-to-build stages. | SolarizEgypt is a certified engineering, procurement, and construction firm for photovoltaic solar power plants in Egypt and the Middle East. Handling full lifecycle services from design through commissioning, the company delivers grid-connected and off-grid systems for utility, commercial, and residential clients. Operating from Cairo, SolarizEgypt utilizes Tier 1 modules and trackers to achieve high-performance installations compliant with local regulations and international standards. |
| HQ Country | ||
| HQ City | London | Cairo |
| Deal Date | 9 Mar 2023 | 23 Feb 2022 |
| Valuation | undisclosed | $345M |
| EV/Revenue | ||
| EV/EBITDA | ||
This data is available for Pro users. Sign up to see all Amarenco acquisitions and their M&A valuation multiples. Start Free Trial | ||
Amarenco Competitors
Amarenco competitors include listed companies like Banpu Power and Greencoat Renewables, and private ones like Climeworks, Mainspring Energy, Qiyuan Core Power Technology and Sinopec Green Energy.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $1.1B | - | ||
| Publicly listed | - | - | $1.1B | - | ||
| Private | - | - | $1B | - | ||
| Private | - | - | $1B | - | ||
| Private | - | - | $1B | - | ||
| Publicly listed | ($45M) | ($8M) | $978M | 24.4x |
Amarenco Public Comps
Amarenco is still privately-owned, but its public comps include Jiangsu Zongyi Co, Arendals Fossekompani, Polenergia, Edenor, Banpu Power, XPLR Infrastructure, HighPeak Energy, Transcorp Power, TotalEnergies EP Gabon and Thungela Resources.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $70M | $41M | 16.0x | - | 27.6x | - | |||
| $394M | $33M | 2.9x | 42.1x | 34.7x | 101.3x | |||
| $1.1B | $75M | 1.5x | 1.6x | 21.8x | 12.6x | |||
| $2B | $533M | 0.7x | 0.6x | 2.6x | 4.9x | |||
| - | - | - | - | - | - | |||
| $1.2B | $607M | 11.8x | 10.7x | 23.0x | - | |||
| $863M | $585M | 2.4x | 2.4x | 3.6x | 3.6x | |||
| $299M | $98M | 3.8x | - | 11.6x | - | |||
This data is available for Pro users. Sign up to see all Amarenco competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Amarenco
| When was Amarenco founded? | Amarenco was founded in 2013. |
| Where is Amarenco headquartered? | Amarenco is headquartered in Cork, Ireland. |
| Is Amarenco publicly listed? | No, Amarenco is a private, VC-backed company. |
| What is Amarenco's valuation? | Amarenco was last valued at $1.1B in its undisclosed-stage round in March 2023. |
| How much funding has Amarenco raised? | Amarenco has raised $521M across 3 funding rounds. |
| What was Amarenco's last funding round? | Amarenco's last funding round was a $325M undisclosed-stage round in March 2023, led by Arjun Infrastructure Partners. |
| Who are Amarenco's investors? | Amarenco's investors include IDIA Capital Investissement, Tikehau Capital and Arjun Infrastructure Partners. |
| Which companies are comparable to Amarenco? | Companies comparable to Amarenco include Climeworks, Banpu Power, Mainspring Energy, Qiyuan Core Power Technology, Sinopec Green Energy and Greencoat Renewables. |
| How many companies has Amarenco acquired? | Amarenco has acquired 2 companies, including Infram Energy and Solarizegypt. |
| What was the largest acquisition by Amarenco? | The $345M acquisition of Solarizegypt in February 2022 is the largest acquisition Amarenco has made to date. |
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