French private equity investor Ardian on Thursday announced its acquisition of Italian renewables platform ICQ Holding, gaining full control over its portfolio of 198 MW of assets and projects in development.
Ardian, a minority shareholder of ICQ since July 2022, purchased the remaining stake from Italian Renewables Resources SpA. The transaction was carried out through Ardian Clean Energy Evergreen Fund (ACEEF) under undisclosed financial terms.
ICQ Holding has a portfolio consisting of 109 MW of operational capacity, distributed across six wind farms, two hydroelectric stations and two biogas plants, and a group of wind projects totalling 89 MW under development.
With ICQ’s portfolio, Ardian’s open-ended clean energy fund now holds close to 500 MW of wind, solar, hydro power and biogas assets in Italy, the investment house said.
Going forward, ICQ Holding will be integrated into Ardian’s renewable-energy asset management platform, OPTA. OPTA is the investor’s in-house data analytics tool designed to optimise the management of renewable energy portfolios, and monitor market risk for renewable assets worldwide.
Once ICQ’s portfolio is incorporated, Ardian will track more than 2,500 MW of renewable energy assets through OPTA.