AIMCo to acquire Spain’s Eolia Renovables from Oaktree

Alberta Investment Management Corporation (AIMCo) has entered into an agreement to acquire a majority stake in Eolia Renovables de Inversiones, S.C.R., S.A (Eolia Renovables), a leading independent power producer in the Spanish renewable energy sector from funds managed by Oaktree Capital Management, L.P. (Oaktree) and other shareholders. The transaction is expected to close in the coming months.

AIMCo’s investment in Eolia Renovables provides its clients exposure to a company that owns a large portfolio of renewable energy assets with long-term revenues contracted under the Spanish regulatory regime, as well as, a pipeline of potential development opportunities in Spain. Eolia Renovables will complement AIMCo’s existing portfolio of global investments in utilities, power generation, and transportation of over $6.5 billion.