A platform launched this year as a key part of Infracapital’s £1 billion ($1.2 billion; €1.1 billion) greenfield fund has added a further 16.1MW of French solar-power capacity to its portfolio.
Infram Energy, established by Infracapital and Ireland-based developer Amarenco in January, has signed a long-term debt facility arranged by The Bank of Tokyo-Mitsubishi UFJ to fund the latest addition to the group’s assets.
It brings Infram Energy’s total installed capacity to more than 95MW after it bought an initial three projects in France upon its launch with a combined capacity of 75MW. Infracapital said more than €200 million has been invested so far in the platform’s initial projects.
Infracapital and Amarenco are aiming to grow Infram’s asset base to about 500MW over the next five years, with around 100MW of predominantly greenfield projects to be added each year. Amarenco said last year it has an objective of €1 billion capital expenditure per annum.
“We have a healthy pipeline of greenfield projects in France and Ireland and see significant scope to grow further in this space,” said John Mullins, chief executive of Infram Energy.
Amarenco earlier this month strengthened its capabilities in France with the acquisition of developer Groupe Carré, which has built 100MW of projects since its formation in 2008.