Novva targets 3.17GW Argentine renewables in expanded ABO Energy deal
A binding framework agreement to acquire 3.17GW of development-stage renewable energy projects in Argentina positions Singapore-registered Novva Group to become one of Latin America's larger clean energy infrastructure…
Key takeaways
- Novva Group signed a binding framework agreement to acquire 3.17GW of development-stage renewable energy projects in Argentina from ABO Energy.
- The deal was signed in Paris by Novva CEO Steven Liu and ABO Energy managing director Karsten Schlageter, with no financial terms disclosed.
- The agreement extends a prior relationship that began with Novva's acquisition of three Colombian solar projects totaling roughly 40MW from ABO Energy.
- The Argentine assets are in the development stage and will proceed through confirmatory due diligence before a share purchase agreement expected in the coming months.
- Novva CEO Steven Liu tied the acquisition to AI-driven computing demand, framing it as part of the company's infrastructure-for-AI thesis.
A binding framework agreement to acquire 3.17GW of development-stage renewable energy projects in Argentina positions Singapore-registered Novva Group to become one of Latin America's larger clean energy infrastructure platforms. The deal, signed in Paris by Novva founder and CEO Steven Liu and ABO Energy managing director Karsten Schlageter, extends a working relationship that opened with Novva's earlier acquisition of three Colombian solar projects totaling approximately 40MW from the same seller. Confirmatory due diligence comes next, with a share purchase agreement expected in the coming months.
The portfolio and process
Both companies confirmed the Argentine assets are currently in the development stage, and no financial terms were disclosed. The transaction will advance through a confirmatory due diligence process before a share purchase agreement is formalised. ABO Energy, the Germany-based developer, said the divestiture fits its strategy of focusing on core markets, a strategy that also produced a 4.4GW wind energy portfolio sale to Fortum in December 2025, comprising 29 projects across Finland.
The Colombia acquisition provides proportional context. Three solar projects totaling approximately 40MW came first. The Argentine portfolio, at 3.17GW, shows how quickly Novva has moved from proving the relationship to scaling it across the region.
What the positioning implies
Liu said the portfolio marks what he called a decisive leap in Novva's Latin America pipeline. He added that the acquisition would propel the company into the top tier of regional renewable energy platforms and establish it as one of the fastest-scaling infrastructure players in the space. Novva's platform spans data centres and renewable energy infrastructure, including powered land, international data centres, and powered shell facilities backed by renewable sources, with a stated focus on emerging markets.
Liu tied the expansion to AI-driven computing demand. He said assembling high-quality wind and solar assets at scale delivers the certainty and bankability the AI economy requires. That positions the Argentine acquisition inside Novva's infrastructure-for-AI thesis rather than as a standalone energy trade.
The watch is the share purchase agreement. The portfolio's development-stage status means construction and permitting timelines remain ahead of any formal close, and both companies have indicated the diligence process will take months before the deal is finalised.