Transaction|October 21, 2009
Renewable Energy Generation completes sale of Canadian wind farm developer
Torys acted as counsel to Renewable Energy Generation with a team that included Valerie Helbronner, Krista Hill, Allen Yi and Charmaine Craig (M&A), Corrado Cardarelli, Richard Johnson and Gregg Larson (tax), Dennis Mahony and Tyson Dyck (environmental), Jonathan Myers (regulatory), Amanda Balasubramanian, Jonathan Wiener and Vanessa Kee (financing) and David Steele (trusts).
On October 21, 2009, Renewable Energy Generation Limited completed its sale of AIM PowerGen Corporation (AIM) to International Power for a purchase price of US$173 million.
The AIM portfolio is concentrated in Ontario, with 40 MW of operating wind energy capacity. AIM's 40 MW Harrow Wind Farm project is under construction and AIM also has an advanced development pipeline of 1,200 MW in Ontario and across Canada.
AIM PowerGen is one of Canada's largest independent wind farm developers.
Renewable Energy Generation is a leading renewable energy group, principally involved with wind power generation and Bio-Power.