In a small saucepan, combine onion, garlic and chardonnay. Bring to a boil; reduce heat and simmer until liquid is reduced by half.
Add the heavy whipping cream and return to a boil; simmer until reduced by half.
Meanwhile, microwave asparagus spears in a microwave-safe dish with 2 tablespoons of water, covered in plastic wrap.
Drain asparagus, place on serving dish. Spoon sauce over top and sprinkle with almonds.