M&G’s infrastructure investment arm Infracapital has entered into a joint venture with Irish renewable energy firm Amarenco to invest in green energy generation projects.
The joint venture, Amarenco Infracapital Renewable Energy, is to invest in greenfield renewable energy generation projects and assets across the UK, Ireland and France.
As part of the agreement, Infracapital has invested in an initial portfolio alongside Amarenco, consisting of three renewable solar projects in France backed by a 20-year feed-in tariff (a mechanism designed to accelerate investment in renewable energy technologies) with a total generating capacity of 75 mega watts.
According to the firms, the platform has a strong pipeline for renewable energy projects across Europe, and it is anticipated that it will invest in projects that can produce around 100 mega watts of per annum over the coming years.
The joint venture has exclusivity over Amarenco’s share of early development projects in the key geographic regions of the UK, Ireland and France and will also be able to source deals from third-party developers, constructors and asset owners.
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