Funding and M&A Roundup: ENGIE, Crédit Agricole Acquire 97.33% Stake in Eolia Renovables
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Alberta Investment Management Corporation (AIMCo), on behalf of certain of its clients, announced the sale of its 97.33% ownership stake in Eolia Renovables de Inversiones to ENGIE and Credit Agricole Assurances. Eolia is an independent power producer engaged in developing, constructing, and operating wind and solar PV projects. Eolia Renovables, one of the largest renewable power producers in Spain. The transaction covers the ownership and operation of 899 MW of operating assets (821 MW onshore wind and 78 MW photovoltaic) and a 1.2 GW pipeline of renewable projects. Operating assets will be 40% owned by ENGIE and 60% by Crédit Agricole Assurances, while ENGIE will develop and build the pipeline of projects. Cantor Fitzgerald and Linklaters advised AIMCo.
