Ardian Expands Renewable Portfolio with Italian Solar Plant Acquisition
Deal News | Jun 30, 2025 | Finance Community IT - 1 Corporate M&A
Ardian, a global leader in private market investments, through its Ardian Clean Energy Evergreen Fund (ACEEF), has acquired a portfolio of 117 operational photovoltaic plants in Italy. These plants have a total capacity of 116 MW and benefit from incentivized energy tariffs. The transaction involved several advisory and consulting firms, including Vitale and InEnergy for M&A advice, EOS for technical consultancy, Legance for legal issues, and PwC for tax and accounting. The portfolio boasts a robust 10-year track record and has recently undergone upgrades with Tier 1 technologies to improve operational efficiency and capacity. This acquisition aligns with ACEEF's strategy of focusing on contractual revenue-generating renewable assets in Europe, particularly in Italy. ACEEF aims to enhance portfolio performance through strategic initiatives like repowering and hybridization, while further expanding its renewable asset base. This move is part of Ardian's broader strategy to increase their renewable energy capacity and transition to sustainable energy solutions.
Sectors
- Renewable Energy
- Private Equity
- Infrastructure Investment
Geography
- Italy – The acquired solar plants are located across various regions in Italy, making it the primary geographical focus of the transaction.
Industry
- Renewable Energy – The transaction involves the acquisition of solar (photovoltaic) plants, which are crucial components of the renewable energy sector.
- Private Equity – Ardian, a prominent player in private equity, facilitated the acquisition through its dedicated clean energy fund, reflecting typical investment activities in private equity.
- Infrastructure Investment – The investment by Ardian Clean Energy Evergreen Fund in renewable energy infrastructure such as solar plants highlights the focus on infrastructure investment.
Financials
- 1 billion euros – The fundraising amount achieved by ACEEF at the fund's closing in July 2023.
- 630,000 euros per MW – The average annual revenue per MW generated by the incentivized solar plants.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Ardian | Acquirer | Company | A leading global private market investment firm that executed the acquisition through ACEEF. |
| Ardian Clean Energy Evergreen Fund (ACEEF) | Fund | Company | A clean energy-focused fund of Ardian, responsible for acquiring the Italian solar plants. |
| E2E | Selling Company | Company | The company responsible for selling its portfolio of solar plants, with over 10 years of experience in acquiring and managing photovoltaic installations. |
| Vitale | M&A Advisor | Company | Provided M&A advisory services for the transaction. |
| InEnergy | Advisor | Company | Acted as an advisor and will manage all renewable assets for ACEEF in Italy. |
| EOS | Technical Consultant | Company | Provided technical consultancy services for the transaction. |
| Legance | Legal Advisor | Company | Handled the legal aspects of the transaction. |
| PwC | Tax and Accounting Advisor | Company | Managed the tax and accounting elements of the acquisition process. |
| L&B Partners | Financial and Legal Advisor | Company | Assisted E2E as a financial advisor and in handling legal and tax aspects of the transaction. |