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					</table><p>Global private investment firm <a href="https://www.ardian.com/" target="_blank" rel="noopener">Ardian</a> has agreed to sell its renewable portfolio, comprising 12 wind farms of 422 MW and hybrid photovoltaic projects of 435 MW, to Spain-based energy group <a href="https://www.naturgy.com/en/home" target="_blank" rel="noopener">Naturgy</a>.</p>
<p>The wind farms were commissioned between 2005 and 2012 in different regions across Spain.</p>
<p>The hybrid photovoltaic farms are currently being developed as part of a project in Spain, maximizing the quality of connection points and stabilizing the energy production of the assets once hybridized.</p>
<p>The company used the ASR Wind platform to manage other renewable energy projects of 1 GW capacity spread across Spain and Italy, which are not a part of this transaction.</p>
<p>Co-Head of Infrastructure Europe, Ardian, Juan Angoitia, said, “This transaction marks a milestone moment for Ardian’s Infrastructure strategy. Our team is now a pioneer in Spain in developing wind-solar hybrid systems, optimizing their production capacity, and improving their industrial value. Furthermore, we will continue to develop our remaining 1GW portfolio with AGR-AM and continue to create value.”</p>
<p>Ardian will drive several other value-creating initiatives in Spain, including hybridizing wind assets with solar photovoltaic power generation systems led by AGR-AM, the renewable asset manager dedicated exclusively to Ardian&#8217;s portfolio in Spain and Latin America.</p>
<p>Ardian acquired 95% of the ASR Wind portfolio in 2019, representing the first investment of its fifth-generation fund, Ardian Infrastructure Fund V. The remaining percentage is held by Exus Management Partners, which will also exit the company&#8217;s ownership following the transaction.</p>
<p>The transaction&#8217;s closing is scheduled for the end of July, subject to Naturgy receiving approval from relevant authorities.</p>
<p>In July last year, Ardian Clean Energy Evergreen Fund <a href="https://www.mercomindia.com/project-finance-brief-opdenergy-secures-financing-solar-projects" target="_blank" rel="noopener">acquired</a> a 100 MW solar portfolio under development in Sardinia, Italy, from Atlas and Heron Advisory.</p>
<p>In October 2022, Ardian and FiveT Hydrogen’s joint venture company Hy24 <a href="https://www.mercomindia.com/hy24-e2-billion-scale-hydrogen-technologies" target="_blank" rel="noopener">announced</a> closing its first impact fund — Clean H2 Infra Fund — at €2 billion (~$2.18 billion) of allocations, aiming to help scale proven hydrogen technologies.</p>
<p>Over 2.6 GW of rooftop solar capacity was <a href="https://www.mercomindia.com/spain-rooftop-solar-capacity-2022" target="_blank" rel="noopener">installed</a> in Spain last year, according to the annual report published by Spain&#8217;s Association of Renewable Energy Companies.</p>
<p>&nbsp;</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/gourav-mishra/" class="vcard author" rel="author"><span class="fn">Gourav Mishra</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><div class="designboxt">
<p><img class="alignleft" style="border-radius: 50%;height: 50px;margin-top: -4px;border: 1px solid #00b451" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/WhatsApp-Image-2022-04-06-at-6.37.25-PM-1-1.jpeg" width="50" /></p>
<p><strong style="text-decoration: underline">Gourav,</strong> Staff reporter at Mercom India<br />
<a href="https://mercomindia.com/author/gourav-mishra/" target="_blank" rel="noopener">More articles from Gourav.</a></p>
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<div class="authorboxn"><img class="alignleft" src="https://mercomindia.s3.ap-south-1.amazonaws.com/wp-content/uploads/2022/04/WhatsApp-Image-2022-04-06-at-6.37.25-PM-1-1.jpeg" width="89" height="102" /><a href="https://mercomindia.com/author/gourav-mishra/" target="_blank" rel="noopener">Gourav</a> is a staff reporter with Mercom India with over six years of experience in various roles with NewsX, The New Indian Express, IBTimes India, and U.S., Republic, and Analytics India Magazine. Gourav has a Master&#8217;s in journalism from Jain University, Bengaluru. <a href="https://mercomindia.com/author/gourav-mishra/" target="_blank" rel="noopener">More articles from Gourav Mishra</a></div>
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Investment Firm Ardian to Sell 857 MW Renewable Portfolio to Naturgy

<p><a href="https://www.naturgy.com/en/home" target="_blank" rel="noopener noreferrer">Naturgy</a>, a Spain-based gas and energy utility company, has entered into the U.S. renewable energy market by acquiring a U.S.-based solar and storage development platform Hamel Renewables.</p>
<p>The acquisition incorporates a portfolio of 8 GW of solar projects and 4.6 GW of energy storage projects, located across nine states of the United States. Of these projects, 25 with a total solar capacity of 3.2 GW and a storage capacity of 2 GW could be operational before 2026, the company said in a statement.</p>
<p>The company also plans to invest up to $1.8 billion over the next five years to operate 1.6 GW of solar energy projects by 2025. It also holds the option to develop the remaining pipeline totaling up to 8 GW of solar energy projects until 2030.</p>
<p>Naturgy also signed a five-year development agreement with <a href="https://www.candelarenewables.com/" target="_blank" rel="noopener noreferrer">Candela Renewables</a> as part of the transaction. The agreement allows the development of solar and energy projects exclusively for Naturgy.</p>
<p>Francisco Reynes, Executive Chairman of Naturgy, said, “This transaction is a considerable step forward towards achieving our strategic objectives. In addition to this, we incorporate a portfolio of excellent projects in different stages of maturity, as well as a first-class team with a proven track record in the development of projects.”</p>
<p>There has been a slew of acquisitions in the solar energy space in the United States recently. This month,  Consolidated Asset Management Services <a href="https://mercomindia.com/belectrics-solar-acquired-cams/" target="_blank" rel="noopener noreferrer">acquired</a> Belectric‘s solar operations and maintenance business, including its 141 operating sites across 11 states in the United States.</p>
<p>Similarly, Gibraltar Industries, a product manufacturer for the renewable energy markets, <a href="https://mercomindia.com/funding-ma-roundup-gibraltar-acquires/" target="_blank" rel="noopener noreferrer">acquired</a> Terrasmart and Sunfig to expand its solar energy portfolio. Terrasmart, a U.S.-based ground-mount solar racking technology provider, was acquired for $220 million, while Sunfig was acquired for $3.75 million in cash.</p>
<p>According to Mercom’s <a href="https://mercomcapital.com/total-corporate-funding-solar-sector-2020/" target="_blank" rel="noopener noreferrer">2020 Q4 and Annual Solar Funding and M&amp;A Report</a>, there were 62 merger and acquisition deals globally in 2020, down from 65 in 2019. Most of the transactions involved in solar downstream companies.</p>
<div class="saboxplugin-wrap" itemtype="http://schema.org/Person" itemscope itemprop="author"><div class="saboxplugin-tab"><div class="saboxplugin-gravatar"></div><div class="saboxplugin-authorname"><a href="https://cms.mercomindia.com/author/harsh-shukla/" class="vcard author" rel="author"><span class="fn">Harsh Shukla</span></a></div><div class="saboxplugin-desc"><div itemprop="description"><p><img class="alignleft" src="https://mercomindia.com/wp-content/uploads/2022/02/Harsh-Shukla-293x300-1-new.jpg" width="99" height="102" /><a href="https://mercomindia.com/author/harsh-shukla/" target="_blank" rel="noopener"><strong style="color: #00b451">Harsh Shukla</strong> </a>is a staff reporter at Mercom India. Previously with Indian Express, he has covered general interest stories. He holds a Masters Degree in Journalism from Symbiosis Institute of Media and Communication, Pune.</p>
<p><a href="https://mercomindia.com/author/harsh-shukla/">More articles from Harsh Shukla.</a></p>
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Naturgy Enters the US Renewable Energy Market with Acquisition of Hamel Renewables

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