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AES, AimCo complete $853M joint deal for solar company SPower

Published 07/31/2017, 06:57 PM
© Reuters.  AES, AimCo complete $853M joint deal for solar company SPower
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  • AES Corp. (NYSE:AES) and Alberta Investment Management have completed their $853M joint acquisition of sPower from Fir Tree Partners, in one of the largest-ever clean energy deals.
  • The deal marks the “latest example of a trend away from institutional investment in individual projects and towards investments that bundle a developer, its existing assets and its pipeline into a single package,” says Bloomberg analyst Nathan Serota.
  • sPower owns at least 1.3 GW of operating solar projects in 11 states and has nearly 10 GW in development; as of February, when the deal was first unveiled, operating assets and projects under construction had long-term power purchase agreements with a remaining average life of 21 years.
  • Now read: Tesla (NASDAQ:TSLA) And Neoen Win World's Biggest Battery Plus Wind Project For South Australia


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