Ardian to buy Peruvian hydropower firm with 73-MW portfolio

Private investing house Ardian will take over a Peru-based hydropower company with a 73.4-MW portfolio to grow its foothold in Latin America.

The company announced the news on Monday, without disclosing the name of the Peruvian target, just its sellers – funds managed by BTG Pactual, Patria Investments and GMR Holding BV.

The business being acquired operates six run-of-river hydroelectric power plants, each with US-denominated energy purchase and sale contracts awarded by the local government. The remaining average life of the contracts is approximately 10 years.

Ardian will execute the transaction through its Ardian Clean Energy Evergreen Fund (ACEEF), thus adding geographical and technological diversification, improving the contracted revenue profile of its portfolio, and consolidating the fund’s renewables presence in the region.

“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,” commented Benjamin Kennedy, managing director of Renewables Infrastructure at Ardian.

ACEEF reached EUR 1 billion (USD 1.09bn) raised at its closing in July 2023.

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