Barcelona, (EFE).- The multinational energy company Naturgy has acquired 100% of the capital of ASR Wind from the infrastructure fund Ardian, a company that owns a portfolio of 12 renewable projects in Spain for a total of 857 MW, for 536 million euro.
Naturgy has specified in a communication to the CNMV, the Spanish stock market supervisor, that ASR Wind has 422 MW in regulated operating wind assets and 435 MWp in photovoltaic solar hybridization projects.
The multinational has clarified that the acquisition includes all of the capital and participatory loans of ASR Wind, so the value of the acquired company is 650 million euros.
NATURGY SUMA 2,300 MW EN RENOVABLES EN ESPAÑA
In this way, Naturgy promotes its renewables in Spain, where it also has more than 1,000 MW under construction that it estimates will be operational before the end of 2024.
Naturgy currently has 88 renewable projects in operation in Spain totaling 2,300 MW.
Specifically, it has 26 operational projects in Castilla y León; 16 in Castilla La Mancha; 17 in Galicia; 6 in Andalusia and 4 in Catalonia, in locations close to those now acquired from Ardian Infrastructure.
The company already has more than 5.5 GW of renewable power in operation worldwide and has a development portfolio of more than 195 projects between Spain, Australia and the United States.
NATURGY ADDS 12 PARKS IN TWO CASTILLAS, CATALONIA, GALICIA AND ANDALUSIA
With this operation, Naturgy integrates 12 wind farms that are already in operation in Spain, with a capacity of 422 MW and which have a remaining average regulatory life of 6 years.
In addition, Naturgy has purchased the hybridization projects of these same plants, which represent an additional 435 MW of solar power and are in an advanced stage of development.
The company ensures that at the end of the remaining useful life of the operating assets, estimated at 16 years on average, wind power repowering can also be implemented to maximize the value of the project.
Naturgy has clarified that the transaction, subject to competition clearance, should be completed by July 2023, while Ardian has received Santander’s advice on this transaction.
The wind projects acquired are located in Castilla y León (5), Castilla La Mancha (3), Catalonia (2), Galicia (1) and Andalusia (1).
The location of the farms is in areas with high wind resources and where the company already has projects in operation, both solar and wind, so the purchase will generate operational synergies, Naturgy remarks, which clarifies that the acquisition “does not incorporate personnel additional operating”.
Regarding the business value of the operation, Naturgy has estimated it at 650 million, which implies a business value ratio over the estimated ebitda of 2023 of about eight times, the listed company has detailed.
The executive president of Naturgy, Francisco Reynés, has assured in a statement that the purchase “has an excellent strategic fit” and that with this portfolio of renewables the company advances in its objective of being “a relevant actor in the energy transition in our country ”.
For his part, Naturgy’s General Director of Renewables, Jorge Barredo, explained that the immediate integration of these 12 farms “allows us to complement the wind power portfolio in operation in Spain, in sites with a high wind resource, located near our own renewable generation and, therefore, with high operational synergies”.