Actis and Mainstream Renewable Power sold Aela Energia, a Chile-based independent power producer established as part of a joint venture between Actis and Mainstream, to Innergex Renewable Energy for USD691m.

(MarketWatch) Aker Horizons ASA said Friday that wind and solar company Mainstream Renewable Power and investor Actis have sold Aela Energia to Innergex Renewable Energy Inc. for $691 million.

Aker Horizons, an investor in renewable energy and other emissions-reducing technologies, acquired a 75% equity stake in Mainstream Renewable Power last year.

“Aela has grown to become Chile’s largest independent power producer of renewable energy, since it was established in 2013 as part of a joint venture between Actis (60%) and Mainstream (40%),” Aker Horizons said.

“The planned exit reflects the successful culmination of Actis and Mainstream’s strategy for Aela. The divestment will generate net proceeds after tax to Mainstream of approximately $114 million.”