Ardian acquires portfolio of six small hydroelectric plants in Peru

Peruvian Flag

Investment house Ardian has acquired 100% of a hydropower company in Perú, through its Ardian Clean Energy Evergreen Fund (ACEEF).

Ardian will acquire the company from funds managed by investment bank BTG Pactual, Patria Investments and GMR Holding B.V. The company owns a portfolio of six small, run-of-river hydroelectric plants with a total capacity of 73.4 MW. The plants have energy purchase and sale contracts from the Peruvian Government that are denominated in US dollars and linked to inflation, with a remaining average life of about 10 years. The names of the plants acquired were not disclosed.

This investment improves ACEEF’s portfolio by adding geographical and technological diversification, improving the portfolio’s contracted revenue profile, and consolidating the fund’s renewable energy presence in Latin America, according to a release.

“This transaction marks our first hydro investment for the fund. This hydro portfolio diversifies our technological mix by adding a strategic and complementary technology. We are also incorporating a highly capable management team on the ground that will strengthen Ardian’s industrial asset management expertise and support our long-term capital deployment strategy,” said Benjamin Kennedy, managing director renewables infrastructure, Ardian.

ACEEF, infrastructure team’s first open-ended clean energy fund, was launched in early 2022 and reached €1 billion (US$1.1 billion) raised at the closing in July 2023. The fund offers investors an opportunity to enhance their exposure to renewable assets and the energy transition. The fund commits to making investments with an environmental objective, as described in Article 9 of the EU Sustainable Finance Disclosure Regulation (SFDR), and invests globally, with a focus on Europe.

Ardian has been investing in renewable assets since 2007. Across all its Infrastructure Funds, the team manages over 8 GW of thermal and renewable energy capacity in Europe and the Americas, with over $28 billion under management.

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