Founded in 2008, Groupe Carré operates commercial- and utility-scale solar photovoltaic (PV) projects across France. Amarenco said the acquisition is aimed at strengthening its position in the French solar and wind power markets and incorporating Groupe Carré’s asset management and O&M expertise.
In a statement, Amarenco called the two companies “an excellent match” given its experience in acquiring, owning and operating renewable energy assets and Groupe Carré’s expertise in developing, building and maintaining projects.
The two firms established a strategic collaboration agreement in 2016 and, after its success, “this acquisition was our next logical step,” said Alain Desvigne, Amarenco’s chair. “Over the months, we have developed a deep understanding of our respective strengths and we now have a clear idea of how to leverage our synergies to launch a path of fast growth.
“Together, we can become involved in an increasingly large number of projects, at any stage of their development, everywhere in France.”
Groupe Carré’s name will now be changed to Amarenco France.
Olivier Carré, former president of Groupe Carré and Amarenco France’s new CEO, said the acquisition would offer customers “the increased safety of having a partner with extremely firm foundations, as well as give them access to a turnkey PV and wind energy project installation offering.”
Since 2014, Amarenco has invested in 75 MWp of operational solar PV projects across France and a further pipeline of projects.