Ardian has completed a transaction to take full control of several solar assets in Latin America that total nearly 50MW of capacity.
Following the decision to dissolve its joint venture with Solarpack, Ardian now owns 100% of three solar plants in northern Chile, totalling 26.5MW, and one solar plant in southern Peru, with a capacity of 22.2MW.
Ardian closed the transaction with Solarpack, a Spain-based renewable energy company, to optimise its portfolio of solar plants in Chile and Peru.
Ardian stated: “In a joint decision after a fruitful partnership, Ardian and Solarpack have chosen to dissolve their joint venture, allowing each partner to retain 100% ownership of their respective portfolios of solar plants.
“This streamlined approach aligns with Ardian’s strategic vision to enhance operational efficiency and seamlessly integrate the solar PV plants into Ardian’s global renewable portfolio.
“The transaction allows Ardian to integrate the retained solar PV plants into Ardian’s global renewable portfolio for increased efficiency and enhanced operating performance.”
Following the transaction Solarpack now owns 100% of Panamericana, a 21.2MW solar PV plant in southern Peru, and 100% of Moquegua, a 19.4MW solar PV plant in southern Peru.
Furthermore, Ardian terminated existing Asset Management agreements with Solarpack for its retained assets, paving the way for AGR-AM, the renewable asset manager dedicated exclusively to Ardian’s portfolio in Spain and Latin America, to assume direct management responsibilities.
This strategic shift aims to align asset management with Ardian’s core objectives and leverage AGR-AM’s extensive experience in optimizing renewable assets across Spain, Portugal, and Latin America.
This new, simpler structure allows Ardian to obtain full control of the plants, manage them more directly, and fully integrate them with the rest of the Ardian Clean Energy Evergreen Fund (ACEEF) portfolio, including the hydroelectric plants recently acquired in Peru.