Amaranto Launches Solar Investment Arm in India Targeting the Acquisition of 500 MW by 2018

Amaranto Launches Solar Investment Arm in India Targeting the Acquisition of 500 MW by 2018

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Already active in India since 2016, Amaranto acquires 110 MW solar power project and aims to build 500MW of solar PV projects in various Indian states over the next three to four years.

Renewable energy firm Amaranto Group has launched an investment arm; Amaranto Solar Power India dedicated to acquiring Solar PV projects in the country and has successfully secured exclusive rights to purchase an 110MW solar power project for around US$80 million.

According to the report published on PVTech, Amaranto Solar Power India aims to raise US$100 million in the first half of 2017, and US$200m by the year end. The company is targeting the acquisition of 500MW by around 2018.

The 100 MW solar power plant, which was auctioned by SECI, Amaranto will act as general contractor through its own EPC company Energia Prima. The Italy-based renewable energy firm will also act as co-investor and industrial operator for the solar plant, and will provide O&M and asset management activities.

Sponsored by London-based Amaranto Global Asset Management (GAM), the new Indian investment arm will be headed by Rodolfo Bigolin, firm’s Managing Partner and Chief Executive.

Rodolfo Bigolin told PVTech that Amaranto has another 200 MW of solar projects under due diligence. Company aims to participate in tenders, get into private power purchase agreements and acquire the third-party developments.

Amaranto Group CEO and Founder, Antonello Amoroso further mentioned to the publication that this is another big step forward in our global expansion; many others will follow in the near future. In an always challenging market, boldness and the perseverance always rewards the best projects.

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