A2A and Ardian, a world-leading private investment house, today signed a binding agreement under which A2A will acquire from Ardian funds participations in 3New&Partners, Daunia Calvello and Daunia Serracapriola, companies comprising a portfolio of wind farms in Italy with a total capacity of 335 MW (195 MW pro-rata with respect to Ardian’s stakes), for an Equity Value of 265 million euros.
The two parties have also signed a second binding agreement for a further portfolio, 4new, owned by a fund managed by Ardian and consisting of wind farms and photovoltaic plants for a total of 157 MW, of which 117 MW are located in Italy and the remaining 40 MW in Spain: the acquisition by A2A provides for a total Equity Value of 187 million euro.
“With these plants A2A consolidates its position as the second largest operator in renewables and its presence in Italy, increasing its activities in Sardinia, Puglia, Lazio and Campania. The operation enables the Group to record significant growth in wind power and boost photovoltaics. Today’s agreement and the transactions concluded in the last 12 months allow us to anticipate by two years the objectives of increasing the generation of green energy as set out in our Business Plan. In order to achieve independence from foreign markets in the supply of gas we need to accelerate the development of renewables, a key factor in the ecological transition. Our objective is to continue to invest in this sector and contribute to the sustainable development of the country.” RENATO MAZZONCINI, CHIEF EXECUTIVE OFFICER OF A2A
“We are very proud of what we achieved, during the last 15 years, with the development of our Italian platforms having today half a gigawatt of assets. Ardian has been a pioneering investor in the renewable field in Italy, supporting growth and energy transition. We are happy that these transaction fit in the A2A transition plan towards renewables. We remain firmly committed to sustainable investments in green energy and we are continuously looking to renew, diversify and develop our renewable energy portfolio worldwide.” MATHIAS BURGHARDT, MEMBER OF THE EXECUTIVE COMMITTEE AND HEAD OF ARDIAN INFRASTRUCTURE
The wind farms covered by the agreements between A2A and Ardian are located in Sardinia, Puglia, Campania and the Spanish region of Catalonia, while the photovoltaic plants are located in Puglia, Lazio and the Spanish region of Andalusia.
The completion of both transactions is subject to the fulfilment of customary conditions precedent and is expected indicatively by the end of June 2022.
Ardian Infrastructure was assisted by L&B Partners (M&A), L&B Avvocati Associati (Legal) and EOS (Technical Advisor).
A2A was assisted by Citi (M&A), Cleary Gottlieb (Legal), Studio Rinnovabili (Technical Advisor) and KPMG (Accounting and Tax Advisor).
A2A is the Life Company that deals with energy, water and the environment, elements fundamental to life, thanks to the circular use of natural resources. It provides the areas and communities in which it operates with expertise and advanced technologies to improve people's quality of life and contribute to the sustainable growth of the country. Listed on the Italian Stock Exchange, with over 12,000 employees, A2A is a leader in Italy in the environmental sector, from sorted waste collection to integrated waste management and material and energy recovery. The second largest energy producer in Italy by its installed capacity, A2A also manages the sale and distribution of electricity and gas, the integrated water cycle, district heating, electric mobility, public lighting, energy efficiency interventions and solutions for the development of Smart Cities. The results for the 2020 financial year report a Gross Operating Margin (EBITDA) of € 1.2 billion and Net Profit of € 364 million and investments totalling € 738 million, up 18% on 2019.
Ardian is a world-leading private investment house with $120 billion assets under management across Europe, the Americas and Asia. The company, which is majority-owned by its employees, is driven by an entrepreneurial spirit and focused on generating for its investors superior performance globally. Through its commitment to shared outcomes for all stakeholders, Ardian’s activities fuel individual, corporate and economic growth around the world. Holding close its core values of excellence, loyalty and entrepreneurship, Ardian maintains a truly global network, with more than 800 employees in 15 offices across Europe (Frankfurt, Jersey, London, Luxembourg, Madrid, Milan, Paris and Zurich), the Americas (New York, San Francisco and Santiago) and Asia (Beijing, Singapore, Tokyo and Seoul). The company manages funds on behalf of approximately 1,200 clients across five pillars of investment expertise: Funds of Funds, Direct Funds, Infrastructure, Real Estate and Private Debt.