Ardian Optimises its Portfolio of Solar Plants in Peru and Chile

French asset manager Ardian, a world-leading private investment house, on Wednesday announced that it has dissolved its joint venture with Solarpack, a Spain-based renewable energy company. The two companies own 89.3MW of solar plants in the Latin American region.

They have now split these assets among themselves, taking full control of the plants that each previously owned to maximise their potential.

The dissolution of the JV will allow Ardian and Solarpack 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.

As a result of the transaction, Ardian now owns 100% of a portfolio of three plants located in northern Chile, totalling 26.5 MW, and 100% of Tacna, a 22.2 MW solar PV plant in southern Peru. On the other hand, Solarpack now owns 100% of Panamericana, a 21.2 MW solar PV plant in southern Peru, and 100% of Moquegua, a 19.4 MW 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 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. This move demonstrates Ardian’s commitment to bolstering its renewable energy assets and enhancing operational efficiency within its ACEEF portfolio.

Benjamin Kennedy, Managing Director of Renewables Infrastructure at Ardian, said that the reconfiguration of the company’s solar assets in Chile and Peru is strategic and underscores their commitment to optimise their renewable energy portfolio.

“This transaction enables Ardian to gain full ownership of excellent solar plants, empowering us to manage and integrate them seamlessly within the ACEEF portfolio. We believe this move will not only enhance operational efficiency but also align with our broader vision of promoting sustainability and clean energy,” Kennedy added.

About Ardian

Ardian is a world-leading private investment house, managing or advising $160 billion of assets on behalf of more than 1,560 clients globally. Ardian’s broad expertise, spanning private equity, real assets and credit, enables it to offer a wide range of investment opportunities and respond flexibly to our clients’ differing needs.