Ardian has acquired the remaining 35% stake in two Spanish wind farms from Mutua Madrileña, securing full ownership of the assets through its Clean Energy Evergreen Fund (ACEEF), the French private investment house said on Wednesday.
The wind farms — Ausines in Castilla y León and Veciana in Catalonia — have a combined capacity of 56 megawatts. Ardian first acquired a majority stake in the projects in 2018.
With this transaction, Ardian expands its Spanish renewable energy portfolio to nearly 250 megawatts of operational wind and solar capacity, managed under its local platform Agr-Am.
“We appreciate the strong partnership with Mutua Madrileña in supporting these assets over the past seven years,” said Federico Gotti Tedeschi, managing director of infrastructure at Ardian. “With full ownership now secured, we will continue building on ACEEF’s industrial strategy — focused on long-term value creation and operational excellence.”
The investment will be supported by Ardian’s proprietary data analytics tool, OPTA, which is used to enhance performance and operational efficiency across its renewable assets.
Mutua Madrileña described the transaction as a positive outcome for both parties. “This has been a highly fruitful co-investment,” said José Antonio Morales, head of alternative investments at the Spanish insurance group. “We look forward to future collaboration with Ardian.”
Launched in 2022, ACEEF is an open-ended fund targeting core renewables and emerging clean energy technologies. It raised €1 billion by July 2023 and complies with the European Union’s Article 9 sustainable investment criteria under the SFDR framework.
Ardian’s infrastructure division manages over 8 gigawatts of thermal and renewable capacity across Europe and the Americas.
