Solarpack to sell minority stake in 43 MW of Peruvian PV farms to Ardian

Solarpack Corporacion Tecnologica SA (BME:SPK) has agreed to sell a 49% stake in two recently fully acquired solar photovoltaic (PV) farms in Peru to a renewable energy investment fund managed by France’s Ardian.

The operating parks, Tacna Solar and Panamericana Solar, have 43 MW of combined capacity and are backed with power purchase agreements (PPAs) with the Peruvian energy ministry. Several days ago, the Spanish solar company became their sole owner after finalising the purchase of the stake it did not hold for USD 51.5 million (EUR 46.6m).

Solarpack said Friday it expects to close the sale with Ardian in the first quarter of 2020. The proceeds from the sale will allow it to repay the USD-30-million bridge loan it obtained to finance the acquisition of the 90.5% stake in the two special purpose vehicles that control the solar farms.

Since first agreeing to buy the majority stake in May 2019, Solarpack has prepared an industrial plan for repowering the solar farms and reorganising the operation and maintenance activities at the sites, the company said.

(USD 1.0 = EUR 0.904)

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