European IPP Amarenco sets up APAC HQ in Singapore
It is starting with the acquisition of a 50MW portfolio in Thailand.
European independent power producer (IPP) Amarenco has established its Asia-Pacific headquarters in Singapore, according to a press release.
Amarenco develops and operates mid to large-scale solar PV infrastructures. The HQ will focus on commercial & industrial (C&I), farm owners and operators and public institutions, using long-term power purchase agreements (PPAs) at a discount to the current price.
It is committing $1.43b (US$1b) of capital over the next five years for both organic and inorganic opportunities across the region.
The company will start in the region with the acquisition of a 50MW project portfolio with tier-one corporate clients in Thailand. It is also currently in talks with blue-chip companies for multiple manufacturing and industrial sites across the region, as well as with developers of large pipelines in Taiwan and Japan.