May 21, 2024

Amarenco Group acquires Spectrum International

Facebook
Twitter
LinkedIn
Amarenco Group acquires 100% of Spectrum International

Amarenco Group, a leading independent renewable energy producer, announced that it has acquired Spectrum International for Renewable Energy Investments, a Jordanian-based renewable energy company. The acquisition includes all operating projects and pipeline of Spectrum, a local developer founded in 2012 by Al-Eqbal Investment.

Industry sources added that Spectrum has developed and owns several BOT solar projects in Jordan for commercial and industrial consumers, positioning itself as a leader in the local market. Amarenco MENA’s acquisition of Spectrum supports the company’s expansion strategy in Jordan and reinforces its commitment to invest in renewable energy projects that contribute to sustainable development.

Yazan Faouri, CEO of Amarenco MENA

Commenting on the acquisition, Yazan Faouri, CEO of Amarenco MENA, stated: “We are excited to announce this acquisition, which strengthens our presence in the Middle East and North Africa region, and reinforces our commitment to invest in the development of renewable energy projects. We are pleased to have Spectrum’s team join our organization and look forward to working together to expand our presence in Jordan and the wider region.”

“We are delighted to have concluded this transaction and wish Amarenco Jordan a prosperous future,” said Stuart Brazier, Director at Al-Eqbal Investment. “Spectrum’s success is the result of hard work and dedication, and we are confident that Amarenco’s expertise will bring about even greater success.”

Industry sources further added that following the acquisition, Spectrum will be rebranded as Amarenco Jordan, becoming the main platform for Amarenco MENA in Jordan, with a target to own 200MW.

Source

For more insights on Renewable Energy : – ESG Investors in pursuit to garner the Energy Shift from Hydrocarbons to Renewable Energy Sources

Private Lenders Favor Mid-East and Africa Renewable Energy Projects

I Squared Capital signs agreement to Acquire Enva

Share.

RELATED POSTS

H.E Sharif Salim Al-Olama, the Undersecretary for Energy and Petroleum Affairs in the Ministry of Energy and Infrastructure and Mr. Yousif bin Saeed Lootah, founder and CEO of Lootah Biofuels.
Lootah Biofuels inks agreement with MOEI
ROSHN signs MoU with Cisco to explore the use of IoT technology for smart buildings
ROSHN Group inks agreement with Cisco
The MoU was signed by His Excellency Omar Al Suwaidi; His Excellency Ahmad Yousuf Ahmad Al Nasser; His Excellency Ghannam Al Mazrouei,
UAE launches new initiative called Industrialist Program
  • Telcotech

LATEST POSTS

AIMCS 2024
The partnership offers a significant step towards achieving seamless financial interoperability. Image Courtesy-Seed Group
Miguel Angel Villalonga COO of e& enterprise, and Nitin Bhandari, SVP and Head of Wallet at First Abu Dhabi Bank (FAB). Image Courtesy-e& enterprise
Rajesh Ganesan, president at ManageEngine