Partnership will accelerate Aera Energy’s ability to further reduce carbon intensity and support the development of carbon capture and storage and other emerging technologies.
Toronto, Canada & Hamburg, Germany (February 28, 2023) – Canada Pension Plan Investment Board (CPP Investments) will partner with international asset management group IKAV to acquire California energy producer Aera Energy LLC.
IKAV Group is partnering with Villar Mir Energía to build and operate a 1.2 megawatt photovoltaic installation for the Seville Metro. 100% of the energy produced by the PV plant will be destined for consumption by Seville’s metro network through a PPA. Manuel Gámez, Head of Investments at IKAV in Iberia, said: "The self-consumption sector represents an extraordinary opportunity for institutional investors, who can offer financing solutions in a PPA format to large energy consumers, and thus eliminate uncertainty and volatility in long-term prices.”
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- IKAV, the international asset management group, has agreed to acquire Aera Energy LLC (“Aera”), through two separate transactions with the joint venture subsidiaries of ExxonMobil and Shell respectively. The transactions are subject to regulatory approval.