sPower
Sale of the Company including 1.3 GW Operating Portfolio and 10 GW Pipeline to:
The AES Corporation, Alberta Investment Management Corporation
FTP Power LLC (“sPower”), the largest independent utility-scale solar owner, operator and developer in the United States, will be acquired by the AES Corporation
(“AES”) and Alberta Investment Management Corporation (“AIMCo”). AES and AIMCo will each own slightly below 50% equity interests in sPower.
Barclays served as the lead financial advisor and global coordinator to sPower for the transaction. Marathon Capital, CohnReznick Capital Markets Securities
and Citi served as co-advisors to sPower.
sPower, a Fir Tree portfolio company that the firm capitalized in 2014, owns and operates more than 150 utility and commercial distributed electrical generation
systems across the United States. The sPower portfolio includes nearly 1.3 GW of solar and wind projects in operation or under construction and a development
pipeline of more than 10 GW located in the United States.