Canadian Wind Power Developer Gains Financial Clout

Renewable Energy Generation Limited (REG) announced its acquisition of AIM PowerGen Corporation (AIM), giving the Canadian wind developer access to capital markets and opportunities in the fast-growing Canadian wind energy marketplace.

“With the experienced development team at AIM combined with the support of the REG team in both the UK and Canada,” said Mike Liston, REG Chairman, “we expect to be at the forefront as Canada develops its huge wind resources.” AIM is a private Canadian windfarm developer, founded in 2001. with more than 2,600 megawatts (MW) of wind projects in various stages of development in the provinces of Ontario, Manitoba, Saskatchewan, Alberta, Newfoundland, Labrador and Prince Edward Island. “AIM has assembled an outstanding portfolio of assets over the last five years and we are delighted to be able to work with the REG team to develop these projects,” said Mike Crawley, AIM President and CEO. “AIM can now also offer partnering opportunities to the many wind power developers who are looking for a strategic partner of their own. REG brings significant international experience and know how, as well as capital.” Under the terms of the agreement, REG will acquire AIM for C$29.1 M. AIM has recently developed the 99 MW Erie Shores Wind Farm — Ontario’s largest wind farm to date and one of the largest in Canada. Canada recently celebrated the achievement of its first 1,000 MW of installed wind capacity. According to the Canadian Wind Energy Association, this is expected to exceed 9,000 MW by 2015.
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