The sale of Pacific Hydro by the IFM Investors' Australian Infrastructure Fund to State Power Investment Corporation (SPIC) was completed on 28 January 2016. The completion of the deal follows the signing and announcement of the transaction on 16 December 2015.
Pacific Hydro is a global renewable platform with 900 MW of generation capacity across 19 hydro-electric and wind generation facilities in Chile, Australia and Brazil. SPIC is one of the five largest power generation groups in China with total assets of USD 113 billion and total installed capacity that exceeds 100 GW.
Kyle Mangini, Global Head of Infrastructure commented that:
“The sale of Pacific Hydro represents a strong outcome and demonstrates IFM Investors’ absolute commitment to maximising value on behalf of our investors. We are proud of the fact that Pacific Hydro has delivered multiple renewable-energy projects in three countries and pleased that the new owners will continue to invest in clean energy.”
The A$7.4b IFM Australian Infrastructure Fund holds ownership interests in 18 core infrastructure assets, including Melbourne Airport, NSW Ports (Port Botany and Port Kembla), Port of Brisbane, Brisbane Airport and NT Airports (Darwin Airport).
IFM Investors also manages the A$15.4b Global Infrastructure Fund which holds investments in 13 infrastructure assets in North America and Europe including Manchester Airports Group, Anglian Water, Freeport LNG and Indiana Toll Road.
For further information please contact:
Partner, Bespoke Approach
Phone: +61 3 9654 0735 / Mobile: +61 400 841 088
Email: abutcher[email protected]