Silver Ridge Power Cuts Canadian IPO 14% – Report

Solar-power producer Silver Ridge Power Inc., formed in 2012 by U.S. private equity firm Riverstone Holdings and AES Corp., has reduced the size of its planned initial public offering on the Toronto Stock Exchange, according to a document obtained by Bloomberg. The IPO is targeted to raise $150 million, down 14% from $175 million anticipated in April, about the time Silver Ridge filed a preliminary prospectus. Based in Arlington, Virginia, Silver Ridge acquires solar plants and projects owned by AES Solar Energy Ltd., a 2008 joint venture between AES and Riverstone.

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