Independent solar energy producer Amarenco, known for its commitment to sustainable energy solutions, is embarking on a crowdfunding initiative to secure a minimum of EUR 2 million (USD 2.1 million) for the development of an extensive 610-MWp portfolio of solar parks in France.
The Franco-Irish renewable energy developer has unveiled this fundraising effort as part of its broader strategy to raise a total of up to EUR 8 million for the ambitious project. So far, data from the crowdfunding platform Lendosphere indicates that approximately EUR 359,600 has already been secured toward the targeted amount.
The capital raised will be allocated to support a comprehensive portfolio of 1,337 photovoltaic (PV) projects, collectively boasting a capacity of 610.4 MWp. These projects are owned by Amarenco's subsidiary, AF Project Co SAS. Of this impressive portfolio, a majority of 1,028 PV installations will be situated in Metropolitan France, with the remainder located in non-interconnected zones (ZNI) in France's overseas territories. These solar installations, ranging in capacity from 35 kWp to 30 MWp, will encompass various setups, including rooftop arrays, ground-mounted plants, solar shades, shelters, and greenhouses.
The development timeline for these projects extends from the end of 2023 to 2029, with the entire portfolio collectively expected to generate around 758 GWh of electricity annually.
Earlier this year, in March, Amarenco successfully secured EUR 300 million in funding from European asset manager Arjun Infrastructure Partners, reinforcing its position as an independent power producer focused on solar energy. This latest crowdfunding initiative aligns with Amarenco's commitment to advancing renewable energy projects and expanding its green energy portfolio.
Amarenco's efforts highlight the growing interest in crowdfunding as a means to support the development of renewable energy infrastructure and promote sustainability within the energy sector.