Amarenco acquires Spectrum Worldwide.
Picture: Amarenco
The unbiased Franco-Irish group Amarenco, a producer of inexperienced power on three continents, has acquired the main Jordanian renewable power 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 Amarenco’s MENA division in Jordan, which has set a goal capability of 200 MW by way of its newest declare.
Amarenco additionally acquired all of Spectrum’s present and pipeline initiatives. The Amman-based firm has developed a number of photo voltaic initiatives in Jordan for business and industrial shoppers underneath the build-operate-transfer mannequin, the place a personal firm builds and operates a solar energy plant in a sure time frame. After the development and operation interval, possession and management of the venture is 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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