Renewable Energy, Solar

AES Corp. buys renewable energy firm sPower

In a deal worth $1.6 billion, AES Corp. and Alberta Investment Management Co. wrapped up their purchase of renewable power firm sPower from holding company Fir Tree Partners.

In a press release, sPower bills itself as the largest independent owner, operator and developer of utility scale solar power assets in the United States.

sPower has an operating portfolio of nearly 1.3 GW and a development portfolio of more than 10 GW. This includes more than 75 utility-scale renewable energy projects.

sPower has its headquarters in Salt Lake City, with offices in San Francisco, Long Beach and New York City.

AES Corp. operates in 17 countries, has a workforce of 19,000 people, and owns and manages $36 billion in total assets, according to that company.