Amarenco acquires Jordan’s Spectrum: Irish independent power producer Amarenco Group fully acquired Jordan-based renewables developer Spectrum gaining 100% ownership of the company’s solar energy projects in the kingdom, according to a statement. The investment tickets and timeline for the upcoming projects were not disclosed in the statement.

The details: The Cork-based renewables company will rebrand the Jordanian company to ‘Amarenco Jordan’ as part of its plans to position the firm as its main Amarenco hub in the country, targeting the deployment of 200 MW worth of clean energy projects through the newly acquired subsidiary, the statement tells us.

Not the first Amarenco acquisition in MENA: Amarenco Group — which allocates over EUR 1 bn to solar energy developments yearly according to the statement — snatched up a 74% stake in Egypt-based renewables company SolarizEgypt’s portfolio in 2022 with the aim of co-developing 300 MW of solar power through to 2026.

Big expansion plans in Egypt and beyond: SolarizEgypt is looking to invest USD 100 mn in Egypt over the next three years, as the company looks to increase business volume and build up FX stocks, we reported in January. The Egyptian company, which installs and operates solar power plants around the country, could also expand its presence in Africa. The company is interested in entering Kenya, Tanzania, and South Africa.

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