AIMCo closes purchase of Eolia majority stake from Oaktree
Summary
Alberta Investment Management Corp has closed its acquisition of a majority stake in Eolia Renovables de Inversiones SCR SA , a Spanish renewable energy company. Eolia is a leading independent power producer in the Spanish renewable energy sector, engaged in the development, construction and operation of wind farms and solar photovoltaic plants. Cristóbal Rodriguez, Chief Executive Officer of Eolia, said, “We are grateful to Oaktree for their support as we worked together to bring about changes that accelerated the company’s growth and created value for all stakeholders. The Company’s portfolio of regulated renewable energy assets is highly attractive for AIMCo as a long-term investor,” states Kevin Roseke, Director of Infrastructure Investments and Head of AIMCo’s London Office. These assets typically provide essential services to the public, have an operating history, and are either regulated or have highly contracted revenues with the potential for long-term capital appreciation.