The Alberta Investment Management Corp. is selling its 97.33 per cent ownership stake in a Spanish renewable energy company.

Eolia Renovables de Inversiones is an independent power producer that develops, constructs and operates wind farms and solar photovoltaic plants. The company manages a 899 megawatt portfolio of renewable energy assets, as well as a renewable project pipeline in Spain.

Since the AIMCo purchased a majority position in Eolia in 2019, the investment manager worked closely with the company’s management team, expanded its employee count and added core management capabilities, according to a press release.

Read: AIMCo takes stake in Spanish renewable power producer

“Today, Eolia is one of the largest independent renewable power producers in the country, with a proven track record of operational excellence and [environmental, social and governance] best practices,” said Ben Hawkins, senior vice-president of infrastructure and renewable resources at the AIMCo, in the release. “Eolia’s success has meant that it has attracted significant market interest and the outcome of this sales process represents an outstanding financial outcome for AIMCo’s clients in support of their long-term investment objectives.

“Today’s announcement is indicative of the important role that the renewables sector plays within European energy markets. AIMCo remains committed to investing on behalf of our clients in the long-term potential of both renewable and broader energy transition opportunities globally.”

Read: AIMCo CEO stepping down, investment manager enters agreement on renewables

In other news, the AIMCo’s real estate arm, AIMCO Realty Investors, completed its first green bond offering at the beginning of the month.

The organization intends to allocate the net proceeds of the offering to fund the financing and/or refinancing of eligible green projects as described in its green financing framework.

“With our inaugural issuance of green bonds, AIMCo Realty is proactively enabling sustainable real estate development,” said Tony Vadacchino, vice-president of real estate at the AIMCo, in a press release. “This bond offering will help us further our intertwined goals of achieving superior investment returns and enhanced [environmental, social and governance] performance.”

Read: BCI’s QuadReal closes inaugural green bond senior note offering