Athena gets binding offers for interest in 205-MW renewables portfolio

The Monte Grighine wind farm in Italy. Source: Athena Investments

Ardian Infrastructure and Glennmont Partners have made binding offers for the ownership interests held by Athena Investments A/S (CPH:ATHENA) in certain Italian and Spanish renewable energy assets totalling 205.5 MW.

Ardian and Glennmont are interested in buying Athena’s 50% stake in the 98.9-MW Monte Grighine wind farm in Italy as well as 100% of five other plants, more details of which are available in the table below.

Name	Type	Capacity	Location	Interest
Monte Grighine	Wind	98.9 MW	Italy	50%
Cerveteri	Solar	8.7 MW	Italy	100%
Nardo Caputo	Solar	9.8 MW	Italy	100%
La Castilleja	Solar	9.8 MW	Spain	100%
Conesa	Wind	30 MW	Spain	100%
Minerva Messina	Wind	48.3 MW	Italy	100%

The suitors are offering a total purchase price of EUR 90.9 million (USD 101.8m).

Athena said in a statement that it will review the binding offers together with its relevant advisers.

In December 2018, Athena announced an award of EUR 7.4 million in an arbitration procedure against Italy related to changes in the country’s renewable energy legal framework. Just a month earlier it won a similar case against Spain.

(EUR 1.0 = USD 1.120)

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