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Ardian to buy Cerberus owned wind farms in Spain - Report

Power News - Published on Tue, 14 May 2019

Image Source: Nasdaq
Reuters quoted two sources with knowledge of the deal said as saying that reported that French investment fund Ardian is close to buying wind farms from Spanish renewables group Renovalia in a 550 million euro (USD 617.87 million) deal, marking a move into green energy where buyer interest is hotting up.

Renovalia has been owned by US private equity fund Cerberus since 2015. Among the assets covered by the deal is Renovalia Reserve, a joint venture between Renovalia and BlackRock, according to one of the sources.

The deal shows renewed investor interest in green energy assets now the threat of subsidy cuts that scared investors away from Spanish renewable assets in 2013 has faded. Also, the cost of wind and solar technology has fallen and governments and companies have stepped up efforts to cut carbon emissions.

Ardian aims to put to work some of a 6 billion-euro ($6.74 billion) fund for investments in Europe with the acquisition of Renovalia's 420-megawatt portfolio.

Renovalia has 1,484 MW wind and solar assets around the world, including 512 MW under development.

Source :

Posted By : Rabi Wangkhem on Tue, 14 May 2019
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