IFM Investors has completed the sale of global renewable infrastructure platform Pacific Hydro to State Power Investment Corporation.
The sale of Pacific Hydro was finalised on 28 January 2016, and follows the signing of the transaction on 16 December 2015.
According to a statement by IFM Investors, Pacific Hydro is a global renewable platform with 900 MW of generation capacity across 19 hydro-electric and wind generation facilities in Chile, Australia and Brazil.
"State Power Investment Corporation is one of the five largest power generation groups in China with total assets of USD$113 billion and total installed capacity that exceeds 100 GW," said the statement.
IFM Investors global head of infrastructure Kyle Mangini said the sale of Pacific Hydro demostrates the firm's "absolute commitment" to maximising value on behalf of investors.
"We are proud of the fact that Pacific Hydro has delivered multiple renewable-energy projects in three countries and pleased that the new owners will continue to invest in clean energy," Mr Mangini said.
The A$7.4 billion IFM Australian Infrastructure Fund holds ownership interests in 18 core infrastructure assets, including Melbourne Airport, NSW Ports (Port Botany and Port Kembla), Port of Brisbane, Brisbane Airport and NT Airports (Darwin Airport), said the statement.
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