Naturgy agrees 857-MW Spanish wind, solar purchase with Ardian

May 16, 2023 01:49 PM ET
  • Spanish utility Naturgy Energy Group SA (BME: NTGY) today stated it has actually agreed to acquire a 422-MW portfolio of wind farms in your home and a pipe of 435 MW of solar projects in a take care of an enterprise value of EUR 650 million (USD 709.5 m).
Naturgy agrees 857-MW Spanish wind, solar purchase with Ardian

The bundle of wind farms includes 12 assets located in the regions of Castilla y Leon, Castilla La Mancha, Catalonia, Galicia and Andalusia. The wind parks were commissioned in between 2005 and 2012 and are part of the 1-GW ASR Wind system, which also consists of various other renewable resource assets in Spain and Italy that are excluded from the sale, Ardian claimed independently. The UK company purchased a 95% risk in the portfolio back in 2019 for its fifth-generation fund, Ardian Infrastructure Fund V. Exus Management, which possesses the staying 5%, will certainly exit the platform following the 422-MW divestment.

The hybrid photovoltaic (PV) projects consisted of in the sale are presently at an advanced stage of growth. Most of them have land and also interconnection authorizations in position and will go on the internet in 2025.

The deal is pending regulative clearance and also is planned to be completed at the end of July. Once finished, it will certainly broaden Naturgy's renewable resource fleet at home, where it has over 2.3 GW in operation as well as is building an added 1 GW.

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