French asset manager Ardian and Spanish renewable energy company Solarpack have dissolved their joint venture, which owned 89.3MW of solar plants in the Latin American region.
The two companies have now split these assets among themselves, taking full control of the plants that each previously owned to maximise their potential.
Ardian has full ownership of three solar plants in Chile totalling 26.5MW, and of Tacna, a 22.2MW solar plant in Peru.
Solarpack has 100% ownership of the Panamericana and Moquegua solar plants in Peru, which have capacities of 21.2MW and 19.4MW, respectively.
Ardian has discarded the asset management agreements previously in place with Solarpack.
AGR-AM, Ardian's renewable asset manager for Spain and Latin America, will now take on direct management responsibilities.
The company stated that this change can help better align asset management with Ardian's goals and capitalise on AGR-AM's expertise in optimising renewable energy assets in the region.
The restructuring will also simplify its asset management, granting it better control of the solar plants.
This will result in direct management and full integration with Ardian's Clean Energy Evergreen Fund (ACEEF) portfolio, which includes recently acquired hydroelectric plants in Peru.
Ardian renewables infrastructure managing director Benjamin Kennedy stated: “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.”
In 2023, Ardian agreed to sell ASR Wind, a portfolio of 12 wind farms in Spain, to Naturgy.
The portfolio includes wind farms with a total capacity of 422MW commissioned between 2005 and 2012.
