S-Power to merge with AES' US-based tidy energy growth organization

Nov 20, 2020 10:38 AM ET
  • S-Power, a renewable energy Independent Power Producer (IPP), revealed an arrangement by the business's owners, the AES Corporation as well as Alberta Investment Management Corporation (AIMCo), to combine with AES' US-based tidy power advancement company. AES' wholly-owned clean power development service includes AES Distributed Energy and also a wind advancement team previously part of Advance Energy.

Image: sPower

Future projects created from the combined 12 GW development pipeline will certainly be possessed 75 percent by AES and 25 percent by AIMCo. Although there is no change in possession of operating assets and also backlog, the newly created platform will certainly handle the 2.5 GW of operating assets as well as the existing 2.6 GW acquired backlog. The deal is anticipated to close in the following few months upon successful completion of popular closing problems.

Headquartered in Salt Lake City, Utah, sPower owns and also operates a wind, solar, and storage portfolio of virtually 2,000 MW. AIMCo is just one of Canada's biggest and also most diversified institutional financial investment managers with more than $115 billion of assets under monitoring. AIMCo's Infrastructure and Renewable Resources team manages a portfolio of virtually $10 billion in infrastructure financial investments.