sPower — largest US independent utility-scale solar IPP (1.3 GW operating + 10 GW pipeline; 75+ utility-scale solar/wind projects in 11 states)
AES + AIMCo close $1.6B acquisition of sPower from Fir Tree Partners — created largest US independent utility-scale solar IPP. 50/50 JV. 1.3 GW operating + 10 GW pipeline; 75+ projects in 11 states. Announced February 2017; closed July 31, 2017.
$1.60B
Deal Value
1,300MW
Capacity
Solar
Technology
UT
Location
Deal Details
- Deal Type
- Corporate M&A
- Seller / Sponsor
- Fir Tree Partners
- Buyer / Financier
- AES Corporation + Alberta Investment Management Corporation (AIMCo) — 50/50 JV
- Deal Value
- $1.6B ($853M cash + $724M assumed non-recourse debt)
- Stage
- Mixed (Operating + Development)
- ISO/RTO
- WECC
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