AES, AIMCo wrap up $1.6 bln buy of solar developer sPower
AES Corp (NYSE: AES) and Alberta Investment Management Corp (AIMCo) have closed their joint acquisition of FTP Power LLC (sPower), a Salt Lake City, Utah-based owner, operator and developer of U.S. utility-scale solar assets. The deal, announced in February, saw AES and AIMCo purchase the company from U.S. hedge fund manager Fir Tree Partners for US$1.6 billion, including debt. With the deal, AES and AIMCo will each own an equity interest in sPower of approximately 50 percent.
31 July 2017•4 mins read
