Amarenco acquires TotalEnergies Renouvelables France's 50% stake in joint venture Énergie Développement, founded in 2017, becoming sole shareholder of a portfolio generating 98 GWh annually.
Amarenco, a European independent power producer (IPP) specialising in photovoltaic energy and storage, has announced the acquisition of the 50% stake held by TotalEnergies Renouvelables France in their joint venture Énergie Développement (ED). Following the transaction, Amarenco becomes the sole shareholder of the structure created in 2017, consolidating a multi-segment solar portfolio anchored primarily in south-western France. The deal comes as TotalEnergies continues its international solar deployments, including the recent commissioning of 28 MWp of rooftop solar for Samsung in Vietnam.
The Énergie Développement portfolio generated annual production of 98 GWh at end-2025. Amarenco indicates that this integration should deliver approximately €10 million in additional recurring EBITDA (earnings before interest, taxes, depreciation and amortisation) for the group. The acquisition is part of a transformation launched by the company in 2020, when it shifted from a pure developer to a fully integrated IPP. In a consolidating European market, projects such as the 39 MW Binn Farm solar project recently approved in Scotland reflect the momentum underpinning these vertical integration strategies.
Amarenco has set 24-month targets: reaching 1 TWh of annual production, 1 GW of installed capacity and full structural financial autonomy. The group currently operates a portfolio of 1.3 GW (in operation and under construction) and is developing a further 2.6 GW, according to its own data. The company has raised more than €630 million from investors since 2020, employs more than 200 people across Europe and invests more than half a billion euros annually.
TotalEnergies Renouvelables France justifies the divestment through a strategic shift towards large-scale solar and wind farms. “The sale of our stake in this joint venture with Amarenco is part of our strategy to refocus our renewable activities on large-scale solar and wind farms in order to benefit from economies of scale,” said Delphine Merle, Chief Executive of TotalEnergies Renouvelables France. The major added that Amarenco will ensure operational continuity for clients.
Alain Desvigne, Chairman of Amarenco, describes the acquisition as the “3rd and final chapter in four years” of the group’s evolution, following transactions with Macquarie in Ireland and with Infracapital, a fund of M&G Investments, on Franco-British assets. Founded in 2013, Amarenco operates in France, Ireland, Spain, Portugal and Austria, and claims more than 2,000 projects completed since its inception.
Amarenco promotes a so-called “regenerative” business model, built around soil restoration programmes on the land where its photovoltaic plants are deployed. These programmes aim to restore the soil’s capacity to absorb carbon emissions, promote biodiversity and improve water retention. The company chairs the agrivoltaics working group within SolarPower Europe, the European industry association. The group invests more than half a billion euros annually in its developments across the continent.
Photovoltaic solutions provider Trinasolar has delivered over 55,000 modules for the 36.65 MWp RASLAG 4 plant in Pampanga, the Philippines, operational since October 2024.
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