Natacha Marly
The Board of Directors of Amarenco is the company’s primary governing body.
Shareholding structure in 2024: 3 Directors from Arjun Infrastructure, 3 Directors from Tikehau Capital, 1 Director from Irish Family Offices and 2 Directors from Executive Shareholders (Alain & John).
In 2024, we took 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 2024, these investments will enable 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 (ESG), in particular through the continuation and extension of the ECHO program.
| 2022 | 2023 | 2024 | |
|---|---|---|---|
| Share of women in Amarenco Board | 30% | 30% | 30% |
| 2022 | 2023 | 2024 | |
|---|---|---|---|
|
Share of independent members in Amarenco Board |
0% | 0% | 10% |
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.
– Audit & ESG Committee
– 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
– Project Development Committee
– Project Construction Committee
– Asset Performance Committee
– 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.
Non detailed list of IC members:
– Excom Members
– Financial shareholders (Representatives of Arjun Infrastructure Partners & Tikehau Capital are members. Representative of Idia Capital Investment is an observer)
Detailed list of IC members:
– President
– CEO
– Chief Financial Officer
– Chief Human Ecology Officer
– Chief Development Officer Europe
– Chief Power Revenues Officer
– Chief Regeneration Officer
– Chairman
– Arjun Infrastructure Partners
– Tikehau Capital
Established in 2023, Amarenco Board’s Audit and ESG Committee reviews the strategy, results, and activities related to environmental, social impact, governance, and regeneration.
The Executive Committee is in charge of the operational governance of Amarenco Solar Limited and all its companies.
Composition : 11 members
CEO
Alain Desvigne
Deputy CEO
Frédéric Maenhaut
Chief Power Revenues Officer
Bernardo Mota Veiga
Chief Legal Officer
Natacha Marly
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
Chairman
John Mullins † 2025
| 2022 | 2023 | 2024 | |
|---|---|---|---|
| Share of women in Amarenco Executive Committee | 0% | 20% | 27% |
The year 2024 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.
In 2024, 100% of the projects presented to the Committee met our ESG criteria.
– Chief Regeneration Officer – Ana Dubois
– Chief Human Ecology Officer – Elisabeth Rousseau Dufour
– Chief Financial Officer – Stéphan Truchot
| Indicator | Description | Number |
|---|---|---|
| Total Number of Board Members | Number of people on the Board of Directors as of 31/12/2024. | 9 |
| Number of Women on the Board | Number of women on the Board of Directors as of 31/12/2024. | 3 |
| Number of Independent Directors on the Board | Number of independent directors on the Board of Directors as of 31/12/2024. | 1 |
| Total Number of Executive Committee Members (COMEX) | Number of members on the Executive Committee of Amarenco Solar Limited. | 11 |
| Number of Women on the Executive Committee (COMEX) | Number of women on the Executive Committee of Amarenco Solar Limited. | 3 |