The private investment firm Ardian announced the acquisition of 100% of a hydroelectric company in Peru through its Ardian Clean Energy Evergreen fund (ACEEF).

Ardian will acquire the company from funds managed by BTG Pactual, Patria Investments and GMR Holding BV

The acquired company has a portfolio of six run-of-the-river hydroelectric plants in operation with a total capacity of 73.4 MW. These plants have energy purchase and sale contracts granted by the Peruvian government, denominated in US dollars and indexed to inflation, with an average remaining life of approximately 10 years.

This investment improves ACEEF’s portfolio, diversifying it from a geographic and technological point of view, improving the contracted income profile of the portfolio and consolidating the fund’s renewable energy presence in Latin America.

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“This transaction represents our first hydropower investment with the fund. This portfolio diversifies our technology mix by adding strategic and complementary technology. We are also bringing in a highly capable local management team that will strengthen Ardian’s industrial asset management expertise and support our long-term capital deployment strategy.”, says Benjamin Kennedy, managing director of Renewable Energy Infrastructure.

“This is our fourth direct investment in renewable energy in Latin America, continuing our opportunistic approach in the region and complementing our overall renewables strategy. Considering our track record in Peru and the quality of the acquired portfolio, we are confident that we will continue to offer solid risk-adjusted returns to our investors,” says Emilio Andrade, Director of Infrastructure at Ardian.

ACEEF is Ardian Infrastructure’s first open-ended renewable energy fund, launched in early 2022 and reaching €1 billion raised by closing in July 2023. The fund offers investors the opportunity to increase their exposure to renewable assets and the energy transition. The fund is committed to investing 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.

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