Infrastructure fund manager Ardian has taken 100% ownership of three solar energy parks in Chile and one in Peru following a joint decision to dissolve its joint venture with Spanish renewable energy company Solarpack.
Ardian and Solarpack chose to dissolve their “fruitful” joint venture, allowing each partner to retain 100% ownership of their respective portfolios of solar plants.
As a result, Ardian now owns 100% of a portfolio of three plants located in northern Chile, totalling 26.5MW, and 100% of Tacna, a 22.2MW solar PV plant in southern Peru.
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.
Additionally, Ardian terminated existing asset management agreements with Solarpack for its retained assets, paving the way for AGR-AM, the renewable asset manager dedicated to Ardian’s portfolio in Spain and Latin America, to take over direct management responsibilities.
Ardian said this would align asset management with its core objectives and leverage AGR-AM’s extensive experience in optimising renewable assets across Spain, Portugal and Latin America.
The new, simpler structure is desinged to allow 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.
Ardian said the move demonstrated its 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: “The reconfiguration of our solar assets in Chile and Peru is very strategic for us and underscores our commitment to optimising our 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.”
To read the latest IPE Real Assets magazine click here.
