The Alberta Investment Management Corp. (AIMCo) has agreed to buy a majority stake in Spanish wind and solar operator Eolia Renovables from Oaktree Capital Management, amid an uptick in interest in the Spanish market from international renewables investors.

Financial terms of the deal, which is expected to close in the coming months, were not disclosed.

Madrid-based Eolia Renovables owns nearly 700MW of Spanish generating capacity, most of it wind.