Author: Ecoberac

Amarenco Group and SolarizEgypt announce the establishment of a new partnership in Egypt. This definitive agreement between both parties agrees that Amarenco shall acquire 74% of SolarizEgypt’s portfolio and co-develop 300MW of assets at an estimated budget of 4 billion Egyptian Pounds (255MUSD) in the next four years.
This Joint Venture between both parties is referred to as “SolarizEgypt | Amarenco & Co.”

This acquisition and partnership will leverage both companies’ strong knowledge and expertise to provide the best-in-class services to the Egyptian energy sector.
The new Joint-Venture will invest in developing Solar Energy projects in Egypt. As a result, clients will be offered a clean source of electricity at a discounted rate, which will help them be more competitive and reduce their carbon footprint.
Amarenco invested more than 500 million euros in Solar Development globally, and Solarize is already well-established and one of the market leaders in its segment. The synergies will allow the Joint-venture to consolidate its position within the industry.

” The Egyptian Energy market is one of the largest markets in Africa and MENA region with ambitious targets for a transition towards renewables and decarbonization. We at Amarenco are committed to investing heavily in the Egyptian market to provide the local community with cleaner, sustainable, and cheaper sources of electricity ” Yazan Faouri, Amarenco CEO in the Middle East & North Africa.

“We’ve seen time and time again that partnerships between strong local players that possess the market knowledge and depth coupled with international players that have the financial muscle and scaling expertise are where the magic happens. This partnership represents a milestone for the renewable sector and is a strong vote of confidence for FDI in Egypt.” Yaseen Abdel-Ghaffar-Founder of Solarize Egypt.

Amarenco, through Energie Développement (joint venture with TotalEnergies) wins the 13^th tranche of the CRE 4 call for tenders and strengthens its leading position in the French solar buildings market.

In total, more than 252 MWp were won on all the tranches of the CRE 4 call for tenders, launched in 2017.

Farm building, roofing, car park canopies, greenhouses, etc. No less than 194 different projects were won in the 13^th round of this call for tenders, with a total capacity of 57.5 MWp.

As a result, 20% of the awarded volumes were won, the largest capacity ever awarded in such a tender.

Olivier Carré, CEO Amarenco France, says “We are proud of the work of our teams and the results obtained over the last 4 years. But this work would be nothing without the recognition of the agricultural and industrial world, which for the last 4 years has enabled us to maintain our position as leader in the French market by entrusting us with their projects year after year.”

Amarenco and PSS have joined forces in Thailand to not only improve the economic competitiveness of Thai companies and Global companies with Thai footprint thanks to savings on energy bills but also to deploy climate resilient and climate mitigating agricultural infrastructures for the benefit of Thai farmers.

PSS, the most preferred and trusted partner for Solar photovoltaic Projects in Thailand and Amarenco Group, global leader in photovoltaic energy production, announce the signing of a joint-venture: PSS AMARENCO & CO. Through this JV, the two solar experts combine their expertise in order to implement 500 MWp over the next 3 to 5 years and to save.

Today, solar photovoltaic energy represents an increasingly important part of the world’s electricity production and is becoming the dominant source of energy.
This is because solar energy is one of the best decarbonising solutions to mitigate climate change while being the most competitive source of power generation. It also contributes to Thailand energy sovereignty and therefore long-term energy independence. Finally, by investing in solarized crop and livestock production infrastructures, also called “agri-pv infrastructures”, Thailand has also the potential to increase its food independence.
This is what PSS AMARENCO & CO stands for.

PSS is seeding the JV with a number of already successfully completed projects, notably Seacon Square rooftop which is the largest single roof in Thailand. Located in Bangkok, Seacon Square is a large indoor shopping mall that opened in 1994. The building is 500 metres long, making it one of the largest shopping malls in Thailand. The owners of Seacon Square will save ฿ 550,000,000 on their energy bills over the next 20 years thanks to the solarized rooftop and the top floor solarized carpark, while at the same time protect the vehicles of their clients from the heat during the summer!

From left to right: Sam Yamdagni (PSS CEO), Alain Desvigne (Amarenco Group CEO), Prote Sosothikul (Seacon Square Director)

Finergreen, financial advisor dedicated to renewable financing in Asia and globally, advised Amarenco on its C&I expansion in South East Asia.

Alain Desvigne, Amarenco Group CEO, states: « It is really amazing to be able to partner with Sam Yamdagni who is a successful serial entrepreneur and a previous corporate executive in several multinationals, as well as with his partner Prote Sosothikul, Seacon Square Director. I am also very excited to deploy our 15 bn Baht joint investment plan in Thailand thanks to this partnership – solar makes so much sense in this country!!! Such ‘glocal’ partnerships prove to be the winning strategy of Amarenco Group across Asia, Europe and Middle East. »

Davide Pacheco, Amarenco Group CFO, added: « We’re thrilled to unfold full sail our presence in Thailand with a solid partner. The PSS Amarenco partnership is a powerful combination, it strategically aligns both companies for the long-term by combining the strength of Amarenco Global footprint with PSS dedicated focus and expertise in the country. Another important milestone for Amarenco RE.Generation commitment and conviction.»

« We are extremely excited to have Amarenco as our JV partner. With deep expertise in PV, Storage, AgriPV, Wind etc and deep commitment Hydrogen and EV, Amarenco has a dynamic team highlighted by their engagement and agility to bring pioneering solutions that unify stakeholders to make strong ecological commitments. We are committed to the purpose of “RE.Generating Thailand with Green Power”.» said Sam Yamdagni, PSS CEO.

“Finergreen is proud to keep playing an active role in the solar C&I space year after year in South East Asia. The PSS/Amarenco partnership is a testimony of our capabilities to ally an exemplary local developer (PSS) with a European leader like Amarenco. Growth prospects are still huge for C&I in Thailand, and this JV is a prime example of that. We look forward to seeing it thrive.” declares Jade Relmy from Finergreen.

De gauche à droite: Sam Yamdagni (CEO de PSS), Davide Pacheco (Directeur Financier Amarenco Group)

Invited by 4p1000 Initiative at 4p1000day2021 during the COP26 in Glasgow, Eva Vandest, our Group Head of Public Affairs, presented Amarenco Group comitment for a solar power based economy engaged in regeneration of ecosystem earth through high ambition combining regeneration programs with Agrivoltaics, Solar and Battery infrastructures.