International Power buys AIM PowerGen

London-based International Power has acquired AIM PowerGen Corporation (AIM), a Canada-based wind farm developer, from Renewable Energy Generation for up to C$189 million (£109 million). 


London-based International Power has acquired AIM PowerGen Corporation (AIM), a Canada-based wind farm developer, from Renewable Energy Generation for up to C$189 million (£109 million). 

London-based International Power has acquired AIM PowerGen Corporation (AIM), a Canada-based wind farm developer, from Renewable Energy Generation for up to C$189 million (£109 million).

The AIM portfolio of wind farms is concentrated in Ontario and the company has a £30 million wind farm project under construction. AIM benefits from Canada’s supportive regulatory environment for renewable energy.

Philip Cox, CEO of International Power, said: ‘[The deal] represents an excellent opportunity for International Power to establish a platform for future growth in the attractive Canadian renewables sector. The Green Energy Act and feed-in tariff programme recently enacted by the government of Ontario provides a good basis for long-term investment in Ontario and was a key driver of our interest in AIM.’

International Power reported an increase in net profits of 30 per cent to £759 million in 2008.

Nick Britton

Nick Britton

Nick was the Managing Editor for growthbusiness.co.uk when it was owned by Vitesse Media, before moving on to become Head of Investment Group and Editor at What Investment and thence to Head of Intermediary...

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