The deal also features the acquisition of a minority stake in Solarpack, including the right to nominate a board member.
“This first investment in South America is a perfect illustration of our ability to source attractive investment opportunities in Europe and in the American continent thanks to our industrial partners. Renewable energy is undoubtedly the energy for the future and we are committed to stand as a leading player at world scale,” says Mathias Burghardt, head of Ardian Infrastructure.
The four assets include three plants in Chile with a combined capacity of 26.5MW in the country’s northern region, and a 19.4MW facility in southern Peru.
Solarpack will continue to operate the plants. The Spanish company is a leading investor in South America, with interests also in Uruguay. Last month it won a regulated market contract in Chile to deliver power at $29.1/MWh, one of the lowest solar PV prices in the world. The resulting 120MW Granja Solar project will be concluded by 2021.
Solapack said that the agreement with Ardian will raise its investment capacity and help it develop 125MW of new solar projects around the world over the next six months.
“We are proud to serve Ardian as a new customer for our operation, maintenance and asset management services, while remaining as minority shareholders in the plants. Moreover, the incorporation of Ardian as a shareholder in Solarpack strengthens the balance sheet of the company as we undertake the development of new projects, and sets a path for future collaboration,” said CEO Pablo Burgos.
Ardian says it has investments in 1GW of renewable power installed capacity throughout the world, and has recently carried out greenfield investments in Norway and Sweden.
