Ares Acquires 49% Stake in 1.6 GW Renewable Energy Portfolio
All projects have long-term Power Purchase Agreements, with an average remaining contract duration of 18 years.
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Ares Management Corporation, an investment manager, announced that a fund managed by the Ares Infrastructure Opportunities strategy has acquired a 49% stake in a portfolio of projects from EDP Renováveis, a developer, owner, and operator of renewable energy infrastructure. The portfolio’s total enterprise value is estimated at around $2.9 billion.
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