The Canadian fund Aimco (Alberta Investment Management Company) has reached an agreement with the main shareholders of Eolia for the purchase of this Spanish giant of renewable energy for 1,400 million euros. The fund will disburse 1,400 million euros for the company, of which 75% controls the Oaktree fund and the rest is shared between the Res NewCo fund and other Spanish minority partners.
The operation, which is subject to approval by the National Securities Market Commission (CNMV), is expected to close in the coming months, according to the fund.
Aimco acquires a portfolio of 38 assets with a net attributable capacity of 669 megawatts in wind energy. The fund said in its statement that it is the first operation of others planned in Spain through Eolia. "AIMCo's investment in Eolia Renovables provides its clients with exposure to a company that has a large portfolio of renewable energy assets with long-term revenues contracted under Spanish regulations, as well as a set of potential development opportunities in Spain. ", indicated the company.
Aimco, which handles assets of 100,000 million euros, was already present in the Spanish market with 5% of CLH, but he sold this stake to CVC in April 2017. "We want to work together with Aimco in this exciting moment in Spanish renewables, the sector is preparing to embark on the next chapter of growth and consolidation, "says Cristóbal Rodríguez, CEO of Eolia.
Oaktree took over 75% of Eolia after acquiring it from a group of Spanish investors in 2015 such as Kutxabank (6.13%), Bankinter (2.67%), Preneal (5.96%), BMN (4.97%). ) or Banco Sabadell (5.84%). Currently, Eolia integrates more than 50 electricity generation projects through renewable energies contributed by more than 20 independent promoters.