Fir Tree completes sale of sPower to AES and AIMCo

By Kelsey Misbrener Fir Tree Partners (Fir Tree) announced that it has completed the sale of sPower, the largest independent owner, operator and developer of utility-scale solar assets in the United States, to a joint venture co-controlled by The AES Corporation and Alberta Investment Management Corporation (AIMCo), on behalf of certain of its clients, for approximately $1.6 billion in cash and assumed non-recourse debt.
Since its formation by Fir Tree in early 2014, sPower has grown from virtually no operating projects to the nation’s largest independent utility-scale solar business, with an operating portfolio of approximately 1.3 GW and a development portfolio of more than

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