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9 February 20223 minute read

DLA Piper advises Innergex in US$686 million acquisition of Aela Generación S.A. and Aela Energía SpA

DLA Piper represented Innergex Renewable Energy Inc. (TSX: INE) on its agreement to acquire Aela Generación S.A. and Aela Energía SpA, a 332-megawatt portfolio of three newly built operating wind assets in Chile, for a purchase price of US$686 million.

The portfolio consists of the Sarco wind farm (170 megawatts), the Aurora wind farm (129 megawatts) and the Cuel wind farm (33 megawatts). Revenues from these facilities are anchored by two forms of power purchase agreements (PPAs) with 25 Chilean distribution companies, maturing at the end of 2036 and 2041.

The cross-border DLA Piper team advising Innergex was led by partners Marco Salgado and Mauricio Halpern in Chile and Martin Nelson-Jones in London.

With more than 1,000 corporate lawyers globally, DLA Piper helps clients execute complex cross-border transactions seamlessly while supporting clients across all stages of development. The firm has been rated number one in global M&A volume for 12 consecutive years, according to Mergermarket.

DLA Piper's Energy sector lawyers advise regulators, the regulated, investors and other industry participants on the implications of the regulatory framework during the planning, development and operational stages of many energy assets and transactions. For decades, the firm has represented organizations operating in the sector throughout the world, with a global team serving clients in the power, oil and gas, renewable, nuclear, energy trading, climate change and water markets. In addition to energy companies, the firm’s clients also include project sponsors, corporations, developers, financial institutions, governments, utilities and regulatory bodies.