The Alberta Investment Management Corporation (AIMCo) has completed the acquisition of over 90% ownership in Eolia Renovables de Inversiones through funds managed by Oaktree Capital Management. Financial terms of the transaction were not disclosed.
Eolia is an independent power producer (IPP) in the Spanish renewable energy sector that focuses on the development, construction and operation of wind farms and PV installations. Eolia currently manages a renewables portfolio with a total generation capacity of 669MW, with these assets locked into long-term contracted revenues under the Spanish Renewables regulatory regime.
Unlock unlimited access for 12 whole months of distinctive global analysis
Photovoltaics International is now included.
- Regular insight and analysis of the industry’s biggest developments
- In-depth interviews with the industry’s leading figures
- Unlimited digital access to the PV Tech Power journal catalogue
- Unlimited digital access to the Photovoltaics International journal catalogue
- Access to more than 1,000 technical papers
- Discounts on Solar Media’s portfolio of events, in-person and virtual
Or continue reading this article for free
Alejandro Cano, managing director at Oaktree, said: “We are very pleased with the progress we have achieved by working with Eolia's management team over our holding period. We are convinced that Eolia's platform is now ideally positioned to benefit from the significant growth that is expected in the sector. AIMCo is one of the most highly regarded investors in the world and we are confident that they are the ideal partner for Eolia going forward.”
Kevin Roseke, director of infrastructure investments and head of AIMCo's London Office, added: “AIMCo is very pleased to become the majority shareholder in Eolia Renovables. The Company's portfolio of regulated renewable energy assets is highly attractive for AIMCo as a long-term investor. The investment fits well with our investment experience in the renewable energy sector and our ambition to place investments in core geographies in continental Europe. We look forward to working with the management team in the coming years to capitalize on further growth opportunities in the Spanish market.”
