Ares Management Corp. is deepening its renewable energy footprint. The Los Angeles-based investment giant announced Monday that a fund managed under its Infrastructure Opportunities strategy has acquired a 49% stake in a renewable energy portfolio owned by Spain’s EDP Renováveis SA, valuing the assets at about $2.9 billion.
The landmark deal bundles 10 energy assets totaling 1,632 megawatts of capacity — including 1,030 megawatts of solar, 402 megawatts of wind, and 200 megawatts of battery storage — spread across four U.S. power markets.
Each of these projects carries long-term power purchase agreements with an average remaining term of 18 years, providing the kind of steady, predictable revenue investors crave in a volatile energy market.
Ares Expands Its Green Empire
For Ares, this acquisition is more than a financial maneuver — it’s a strategic leap into the future of sustainable power. The firm emphasized that the deal aligns perfectly with its mission to channel capital into long-term contracted, diversified, and growth-oriented clean energy assets.
“As we continue to provide capital to support the buildout of high-quality infrastructure assets, this investment presents a compelling opportunity to further diversify Ares’ presence across key domestic power markets and growing energy subsectors,”
said Steve Porto, partner in the Ares Infrastructure Opportunities strategy.
