The Board of Directors of Amarenco is the company’s primary governing body. The Board of Directors comprises 9 directors as of 31/12/2025 (6 men, 3 women, 1 independent director — Fiona O’Driscoll, Chair of the Audit & ESG Committee).
Since 2024, we have reached a new strategic step in our development, supported by our shareholders – Tikehau Capital, Arjun Infrastructure, IDIA Capital Investment (Crédit Agricole Group), Irish Family Offices and co-founders.
Their reaffirmed investment bears witness to their conviction in the relevance of our model and in our ability to accelerate the transition to energy and the regeneration of ecosystems, on a European and international scale.
Backed by this solid and committed support, Amarenco is pursuing the ambitious deployment of its strategic pillars: solar energy and energy storage.
In 2025, these investments enabled us to step up our actions in favour of soil regeneration and the development of micro-forests, while strengthening our leadership in environmental and social performance (E&S), in particular through the continuation and extension of the ECHO program.
Shareholding structure in 2025: The co-founders alongside Arjun Infrastructure, Tikehau Capital, IDIA Capital Investment and minority shareholders.
1st independent administrator of Amarenco, integrated the board in 2024.
The Importance of Appointing an Independent Director within the Board of Directors
In line with best practice in corporate governance and social responsibility, the presence of independent directors on the Board of Directors is essential in ensuring balanced, objective, and transparent decision-making. An independent director is defined as someone who maintains no relationship—of any nature—with the company, its group, or its executive management that could compromise their ability to exercise impartial and autonomous judgment.
In other words, an independent director is not only a non-executive member—meaning they do not hold any managerial position within the company or its group—but also someone who has no specific ties or vested interests, such as being a significant shareholder, employee, or maintaining other material connections.
By integrating independent directors, the company strengthen its ability to make decisions that serve the long-term interests of all stakeholders and to uphold the highest standards of ethics, transparency, and accountability.
ESG Key Performance Indicators are reviewed at each quarterly Board meeting.
| Indicator | Description | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Share of women in Amarenco Board | 30% | 30% | 33% | |
| Share of independent members | 0% | 10% | 11.1% | |
| Total number of members of the Board of Directors | Number of people on the Board of Directors as of 31/12 | 7 | 9 | 6 |
| Number of women on the Board of Directors | Number of women on the Board of Directors as of 31/12 | 3 | 3 | 3 |
| Number of independent directors on the Board of Directors | Number of independent directors on the Board of Directors as of 31/12 | 0 | 1 | 1 |
| Share of women on the Executive Committee | 20% | 27% | 22.2% | |
| Total number of members of the Executive Committee | Number of members on the Executive Committee of Amarenco Solar Limited. | 10 | 11 | 9 |
| Number of women on the Executive Committee | Number of women on the Executive Committee of Amarenco Solar Limited. | 2 | 3 | 2 |
– Audit & ESG Committee (see below)
– Remuneration Committee
Our Remuneration Committee oversees executive pay and compensation policies, ensuring they align with company performance, strategic objectives, and governance standards. It helps promote fairness, transparency, and shareholder alignment. Composition : CHEO, CEO, Arjun and Tikheau
– Investment Committee
Our Investment Committee is a decision-making body that evaluates the profitability and strategic alignment of proposed projects. It challenges their financial returns, risk assessments and their consistency with the Board’s regenerative vision and sustainability goals. Its role is to ensure that investments meet economic expectations while advancing long-term environmental and social value.
– Project Development Committee
– Project Construction Committee
– Asset Performance Committee
Established in 2023, the Amarenco Board’s Audit and ESG Committee reviews, in particular, the strategy, results, and activities related to the environment, social impact, governance, and regeneration.
The Executive Committee is in charge of the operational governance of Amarenco Solar Limited and all its companies.
Composition : 9 members
CEO
Alain Desvigne
Deputy CEO
Frédéric Maenhaut
Chief Power Revenues Officer
Bernardo Mota Veiga
Chief Human Ecology Officer
Elisabeth Rousseau Dufour
Chief Regeneration Officer
Ana-Maria Dubois
Chief Financial Officer
Stéphan Truchot
Chief Investment Officer
Charles Cadoux
Chief Operating Officer
Samuel Jérôme
Chief Development Officer
Xavier Messing
The year 2025 marked a significant step forward in our ESG governance: our Regeneration Director joined the Executive Committee. This appointment reflects our commitment to elevating ESG and regeneration considerations to the core of our strategic decisions.
Adherence to Amarenco’s ESG criteria is required for every project submitted to the investment committee. To ensure this, our development and regeneration teams analyse a series of 15 indicators related to the project’s territory, infrastructure, and the initial state of the ecosystem.
– Chief Regeneration Officer
– Chief Human Ecology Officer
– Chief Financial Officer