Ardian has reached an agreement to sell a collection of 12 wind farms, with a combined capacity of 422MW, to Naturgy, a Spanish renewable energy company.
These wind farms, collectively known as the ASR Wind platform, are located in various regions of Spain and were constructed between 2005 and 2012.
Ardian has utilized the ASR Wind platform to oversee other renewable energy projects in Spain and Italy, totaling 1GW. However, these projects are not included in the current sale transaction.
In 2019, Ardian acquired a 95% stake in the ASR Wind portfolio, marking the initial investment made by Ardian Infrastructure Fund V, their fifth-generation fund.
The remaining ownership percentage is held by Exus Management Partners, who will also divest their stake in the company as part of this transaction.
“This transaction marks a milestone moment for Ardian’s Infrastructure strategy.”
“Our team is now a pioneer in Spain in developing wind-solar hybrid systems, optimizing their production capacity and improving their industrial value.”
“The attractiveness of this type of asset has also been demonstrated by the strong interest it has received in the market.”
“Furthermore, we will continue to develop our remaining 1GW portfolio with AGR-AM and continue to create value.”
The transaction is expected to be finalized by the end of July, pending the completion of necessary competition procedures by Naturgy, as required by the authorities.
In addition to overseeing wind farms, Ardian is actively involved in the hybridization of wind assets with solar photovoltaic power generation systems. This effort is led by AGR-AM, the renewable asset manager exclusively dedicated to Ardian’s portfolio in Spain and Latin America.
The portfolio being sold also consists of a hybrid photovoltaic farm with a capacity of 435MW, which was developed by AGR-AM.
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