Athena inks deal to sell wind, solar stakes to Ardian, Glennmont

The Minerva Messina wind farm in Italy. Source: Athena Investments

June 5 (Renewables Now) - Athena Investments A/S (CPH:ATHENA) today signed a deal to sell its stakes in six wind and solar parks totalling 205.5 MW to Ardian Infrastructure and Glennmont Partners.

As previously announced, Glennmont will acquire Athena’s 100% interest in the 48.3-MW Minerva Messina wind farm in Italy by taking over Minerva Messina Srl. On the other hand, Ardian will buy a 50% stake in the 98.9-MW Monte Grighine wind farm in Italy and 100% of four other assets, some of which are located in Spain.

In total, the pair will pay EUR 90.9 million (USD 102m) to Athena. The transaction is expected to close in the third quarter of 2019.

Athena’s chairman Peter Hostgaard-Jensen said that the proceeds from the sale will allow the company to “continue its diversification to rebalance the portfolio in terms of businesses and geography.”

(EUR 1.0 = USD 1.126)

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