Ardian has announced its agreement to divest a significant portfolio of 12 wind farms, with a total capacity of 422MW, to Naturgy, a prominent Spanish renewables company. The wind farms, collectively known as the ASR Wind platform, are strategically located in various regions across Spain and were commissioned between 2005 and 2012.
It is worth noting that Ardian has effectively utilized the ASR Wind platform to oversee other notable renewable energy projects in Spain and Italy, amounting to a staggering 1GW. However, these projects have been excluded from the current transaction. In 2019, Ardian acquired a majority stake of 95% in the ASR Wind portfolio, making it the inaugural investment of the Ardian Infrastructure Fund V, the firm's fifth-generation fund dedicated to infrastructure investments.
Following the completion of this transaction, Exus Management Partners, who currently holds the remaining percentage of the ASR Wind portfolio, will also divest its ownership, aligning with Ardian's strategic decision. This pivotal move showcases Ardian's commitment to its Infrastructure strategy, marking a significant milestone for the company.
Commenting on this momentous development, a representative from Ardian stated, “Our team has achieved a pioneering position in Spain by spearheading the development of wind-solar hybrid systems. Through this innovation, we have successfully optimized production capacity while enhancing the industrial value of these assets. The market's strong interest in this type of asset further exemplifies its attractiveness. Additionally, we are dedicated to advancing our remaining 1GW portfolio in collaboration with AGR-AM, with the aim of consistently generating value.”
The closure of this transaction is anticipated to take place by the end of July, pending Naturgy's completion of the necessary competition procedures mandated by the authorities. Ardian remains committed not only to the efficient management of wind farms but also to the integration of wind assets with solar photovoltaic power generation systems. AGR-AM, a renewable asset manager exclusively focused on Ardian's portfolio in Spain and Latin America, spearheads this ambitious hybridization effort. Notably, the portfolio also encompasses a remarkable hybrid photovoltaic farm of 435MW, developed by AGR-AM.
As Ardian continues to showcase its dedication to sustainable investments and the advancement of renewable energy projects, this divestment of the ASR Wind platform underscores the company's strategic vision and commitment to driving positive change in the global energy landscape.
