sPower Acquires 55 MWdc Idaho Solar 1 Project

First project acquisition under new AES/AIMCo parent companies

SALT LAKE CITY–(BUSINESS WIRE)–sPower, an industry leader in renewable assets, recently acquired the
operating 55 MWdc Idaho Solar 1 project. Located in Kuna County, ID and
placed in service in late 2016, the PV system will continue to operate
and sell all output to Idaho Power Company under a 20-year contract.
This is sPower’s first operating project acquisition since becoming an
AES/AIMCo company in 2017.

“We are thrilled to add another high-quality asset to the sPower fleet.
Consummating this transaction would not have been possible without the
support of AES and AIMCo as we continue to push the market across the
competitive, renewable M&A landscape,” commented Brian Callaway,
Director of Structured Finance and M&A at sPower. He added, “The ability
to finance this purchase with proceeds from a delayed draw on our recent
bond issuance was a key competitive advantage.”

“We were pleased to work with York Capital and find a final home for
this project,” said sPower CEO Ryan Creamer. “In addition to ownership,
the Idaho Solar 1 project will now be operated by sPower Services, a
team that operates over 1300 MWdc that generates over 10 gigawatt hours
a day.”

sPower is continuing to pursue future acquisitions of both wind and
solar assets at all stages of development, as well as those that are
already in operation. sPower’s long-term growth plan forecasts a
continued expansion of the Company’s resources dedicated to acquisitions.

About sPower:

sPower,
an AES and AIMCo company, is the largest private owner of operating
solar assets in the United States. sPower owns and operates a portfolio
of solar and wind assets greater than 1.3 GW and has a development
pipeline of more than 10 GW. sPower is owned by a joint venture
partnership between The AES Corporation (NYSE: AES), a worldwide energy
company headquartered in Arlington, Virginia, and the Alberta Investment
Management Corporation, one of Canada’s largest and most diversified
institutional investment fund managers. For more information, visit www.sPower.com.

Contacts

sPower
Camille Press, Communications Specialist
cpress@sPower.com