Amarenco seeks crowdfunding money for 610 MWp of French solar

Independent solar energy producer Amarenco is seeking to raise at least EUR 2 million (USD 2.1m) through a crowdfunding campaign supporting the construction of a 610-MWp portfolio of solar parks in France.

The Franco-Irish developer has opened a fundraising round as part of a wider plan to raise up to EUR 8 million for the initiative. So far, around EUR 359,600 of the target is secured via the Lendosphere, data by the crowdfunding platform shows.

The raised proceeds will be earmarked for a portfolio of 1,337 photovoltaic (PV) projects with a combined capacity of 610.4 MWp owned by Amarenco’s AF Project Co SAS subsidiary. The bulk of the plants, totalling 1,028, will be installed in Metropolitan France, while the remaining ones will be switched on in non-interconnected zones (ZNI) in overseas French territories. With individual capacities of between 35 kWp and 30 MWp, they will include rooftop arrays, ground-mounted plants, solar shades, shelters and greenhouses.

All projects in the portfolio are planned to be completed between end-2023 and 2029 and will together produce some 758 GWh per year.

In March, Amarenco raised EUR 300 million from European asset manager Arjun Infrastructure Partners to back its growth as a solar-focused independent power producer.

(EUR 1.0 = USD 1.063)

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