AES Corp. and the Alberta Investment Management Corp. (AIMCo) have agreed to buy sPower, the fast-growing Salt Lake City-based solar and wind operator, in one of the US renewables market’s biggest deals so far this year.
Virginia-based AES, the global power giant, and AIMCo, which manages C$90bn ($69bn) for various Canadian pension funds, will pay $853m in cash for sPower while taking on $724m in non-recourse debt.
