Ardian has agreed to sell a portfolio of 12 wind farms, totalling 422MW, to Spanish renewables company Naturgy.
The wind farms, which form the ASR Wind platform, are in different regions across Spain and were commissioned between 2005 and 2012.
Ardian has used the ASR Wind platform to manage other renewable energy projects in Spain and Italy, totalling 1GW, which were excluded from this transaction.
Ardian acquired 95% of the ASR Wind portfolio in 2019, representing the first investment of its fifth-generation fund, Ardian Infrastructure Fund V.
The remaining percentage is held by Exus Management Partners, which will also exit the company’s ownership following the 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 closing of the transaction is scheduled for the end of July, once Naturgy has completed the competition procedures required by the authorities.
Alongside the management of wind farms, Ardian is focused on hybridisation of wind assets with solar photovoltaic power generation systems, led by AGR-AM, the renewable asset manager dedicated exclusively to Ardian’s portfolio in Spain and Latin America.
The portfolio also includes a hybrid photovoltaic farm of 435MW developed by AGR-AM.