Naturgy agrees to acquire 422 MW wind farms portfolio from Ardian

Naturgy, a Spanish renewable energy group,  has agreed to acquire ASR Wind, a portfolio of 12 wind farms, from private investment house Ardian for an undisclosed sum. Spread across various regions in Spain, the wind farms with 422 MW of installed capacity were commissioned between 2005 and 2012. The portfolio also includes a 435 MW hybrid solar photovoltaic (PV) farm, which is being developed by AGR-AM, Ardian’s renewable asset manager in Spain and Latin America.

The hybrid PV farms are currently being developed as part of a project in Spain. In 2019, Ardian acquired 95 per cent of the ASR Wind portfolio via Ardian Infrastructure Fund V, its fifth-generation fund. The remaining 5 per cent stake is owned by Exus Management Partners, which has also agreed to exit the company’s ownership upon completion of the deal. Completion of the deal is expected in July 2023, subject to Naturgy receiving approvals from the relevant authorities.

In September 2022, Global Power Generation, a joint venture between Naturgy and the Kuwait Investment Authority acquired the Cunderdin hybrid solar project in Australia. A 55 MW battery energy storage system (BESS) and about 125 MWdc of solar photovoltaic (PV) capacity would be used in the Cunderdin project. The hybrid facility would be built by SBP close to Cunderdin in Western Australia and connected to the South West Interconnected System (SWIS).