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Amarenco Group, a leading independent renewable energy producer, has acquired Jordan-based renewable energy company Spectrum International for Renewable Energy Investments.
The acquisition includes all operating projects and pipelines of Spectrum, a local developer founded in 2012 by Al-Eqbal Investment.
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 investing in renewable energy projects that contribute to sustainable development.
renewable energy projects
Commenting on the acquisition, Yazan Faouri, CEO of Amarenco Mena, said: “This acquisition strengthens our presence in the MENA region and strengthens our commitment to invest in the development of renewable energy projects. We are delighted to have Spectrum’s The team joins our organization and looks forward to working together to expand our presence in Jordan and the wider region.”
After the acquisition, Spectrum will be renamed as Amarenco Jordan and become the main platform of Amarenco Mena in Jordan, aiming to have 200MW.
“We are delighted to have completed this transaction and wish Amarenco Jordan a prosperous future,” said Stuart Brazier, director of Al-Eqbal Investment. “Spectrum’s success has been the result of hard work and dedication, and we are confident that Amarenco’s expertise will lead to even greater success.” — trade arab news agency
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