In a move to expand its green portfolio, Ardian has unveiled a financing package worth up to 650 million euros aimed at accelerating renewable energy growth. The agreement covers 422 megawatts spread across twelve wind farms in Spain and signals a broad push to strengthen the group’s low-carbon assets. The plan also includes solar hybrid projects pairing solar with other technologies totaling as much as 435 MW, with most units expected to be operational by 2025. There is also room to reinforce and repurpose wind farms nearing the end of their life cycle, typically in about sixteen years.
At present, the group operates 88 renewable energy projects that total around 2,300 MW. The portfolio spans multiple regions, including Castile and León, Castilla-La Mancha, Galicia, Andalusia, and Catalonia. Looking ahead, 2023 is set to add thirty wind farms and photovoltaic plants, with a further 1,000 MW of capacity under construction and anticipated to come online before the end of 2024. This expansion aligns with a strategy to rapidly scale generation capacity across Spain and maximize synergy with existing assets.
These Ardian investments fit into a pattern of park placements that align with the company’s current operational footprint. Five wind and solar parks are already located in Castile and León, Castilla-La Mancha, Catalonia, Galicia, and Andalusia, showcasing a coherent geographic strategy that leverages strong wind and solar resources.
Francisco Reynés, head of Naturgy, confirmed that the deal fits well with Naturgy’s investment parameters, highlighting disciplined fiscal management and the value of inorganic growth as compatible paths to strengthen the company’s renewable portfolio. He underscored that the immediate integration of these twelve parks would enhance Naturgy Renewables’ wind power capacity in Spain, a country characterized by abundant wind resources near Naturgy’s existing generation assets and high operational synergies.
Jorge Barredo, managing director of Naturgy Renewables, added that the acquisition broadens the wind power portfolio in Spain and leverages the high wind corridor across the country. This supports the company’s goal of maximizing production efficiency while expanding its footprint in regions with established transmission and grid capacity to handle new renewable capacity.
renewable portfolio
The current operational base totals about 2,300 MW, with plans to add significant new capacity. In total, 18 projects are expected to launch this year, pushing total project counts higher and enabling more than a thousand additional megawatts of prospective power. A recent environmental permit backdrop highlights eight wind farms in Galicia and a major solar facility that will anchor the group’s expansion in Extremadura, including the Arañuelo Field, a 300 MW solar project poised to become the largest solar installation built by the company in Spain.
Beyond Spain, the group has more than 3,000 MW of renewable energy in operation. Australia is identified as a priority market for further development, with a target to reach 2,200 MW of wind, solar, and storage capacity by 2025. Naturgy has already commissioned its first global battery storage facility, signaling a broader push into energy storage and dispatchable renewables to complement wind and solar generation.