Salt Lake City’s sPower, an independent renewable energy power producer, has announced an agreement by the company’s owners, the AES Corp. of Arlington, Virginia, and Alberta Investment Management Corp. (AIMCo) of Edmonton, Alberta, Canada, to merge sPower with AES’s U.S.-based clean energy development business. AES’s wholly owned clean energy development business includes AES Distributed Energy and a wind development team formerly part of Advance Energy.
A press release from sPower said the merged business will represent one of the top renewables growth platforms and be focused on accelerating the safe, reliable transition to cleaner energy solutions in the U.S. As states, communities and organizations of all types make commitments and plans to reduce their carbon footprints, renewables are on track to be the fastest-growing source of electricity generation in the U.S. in 2020, sPower said. “The merged sPower and AES clean energy business will work with its customers to co-create and deliver the smarter, greener energy solutions that meet their needs, including 24/7 carbon-free energy.”
“Our experience working with AES has shown that they are a world leader in delivering on customers’ sustainable energy needs, and the formation of this new renewables platform in the U.S. will take that capability to an even higher level,” said Ryan Creamer, CEO of sPower. “On behalf of our clients and consistent with our investment mandate, we are excited about the value the next phase of our partnership will bring to our many stakeholders.”
“The merged renewables platform will bring together sPower’s and AES’ differentiated capabilities in solar, wind and energy storage to accelerate our customers’ energy transitions,” Creamer continued. “The leading renewables platform that sPower is today is a testament to the hard work of our people and the partnership we’ve had in place with AES and AIMCo. As sPower merges with AES’ clean energy business in the U.S., we look forward to continuing to power our customers’ energy transitions in ways that also benefit the communities we operate in and our industry. I am excited to help transition the team to AES by the end of the year.”
“We share our customers’ commitments to a more sustainable energy future. Together, we can create a safe, resilient and carbon-free grid,” said Andrés Gluski, AES president and CEO.