Climate Changed
AES, AimCo Complete $853 Million Deal for Solar Company SPower
- Institutional investors becoming prime buyers of renewables
- Fir Tree grew sPower to an operating portfolio of 1.3GW
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AES Corp. and Alberta Investment Management Co. completed the $853 million joint acquisition of sPower from Fir Tree Partners Inc., in one of the largest clean-energy deals to date.
sPower, or FTP Power LLC, attracted interest from prospective U.S., Canadian and European buyers, including institutional investors, Jeffrey Tannenbaum, Fir Tree’s founder, said in an interview.