Ardian Infrastructure has signed a nonbinding agreement with Italian utility A2A for an energy generation and supply partnership in Italy.
The two companies are aiming to establish the second-largest Italian platform focused on the energy transition, and one of the largest electricity producers and suppliers in Italy. They are exploring the option of incorporation of an entity known as NewCo, in which A2A would contribute full ownership or majority stakes in a portfolio of assets.
Ardian will invest up to €1.5 billion ($1.8 billion) in equity in the new company, accelerating the roll-out and financing of a more-than three-gigawatt renewable generation plan. Following the investment, Ardian will hold up to a 45 percent shareholding of NewCo.
The partnership would become the exclusive vehicle for each of A2A and Ardian’s future investments in the renewable energy generation sector in Italy. It will follow a clear decarbonization strategy, in line with the obje