Ardian has acquired an 81 percent stake in four solar projects from Spanish developer Solarpack in what represents its maiden infrastructure investment in the Americas.
The portfolio comprises three plants in the north of Chile and one in the south of Peru. The $31 million deal will also see Ardian buy a minority stake in Solarpack and get a seat on the company’s board.
The solar farms have a combined installed capacity of 46MW, with the three plants in Chile totalling 26.5MW and the Peruvian facility accounting for 19.4 MW. Solarpack will continue to be responsible for the plants’ operations, maintenance and day-to-day asset management.
The transaction marks another foray by Ardian into the renewables sector, after the firm invested in two Scandinavian greenfield wind projects in January and June.
Ardian now owns 49 percent of a 51.8MW facility in Finnmark, in northern Norway, and 75 percent of the 76MW Mariestad and Toreboda wind farm in Sweden. The latter’s entire output will be sold to Google under a long-term power purchase agreement.
Last week, Infrastructure Investor reported that Ardian had started a process to divest its entire fund II, a vehicle closed on €1.1 billion in 2007. The firm is currently investing Fund IV, which closed this January on €2.65 billion.