Ares Our Business Private Equity Infrastructure and Power Historical Investments

AIP Historical Investments(1)

* Project currently under development.
1. As of December 31, 2019. 
2. Other Renewables includes tire-derived fuel (Black River), waste (BCH, Carolina Energy, Detroit Resource Recovery, and VEDCO), and CHP (Primary Energy).

AIP Greenfield Construction Experience

Note: A complete list of all of the investments made by AIP funds is available upon request.
1. Investments exclude development projects sold to third parties as well as loans to construction projects, which in aggregate amount to an additional 10 GW.
2. Renewable projects include the following Aria Energy projects: Brevard (FL), Butler (NE), Colonie (NY), County Line (IN), DANC (NY), Erie (CO), OKC (OK), Ontario (NY), Pine Tree Acres (MI), Trail Ridge (FL), Sarasota (FL), Seminole (FL), Seneca (NY), SE OKC (OK), Sunshine Canyon (CA), and SWACO (OH); the following Phoenix Wind projects: Trinity Hills (TX), Sherbino Mesa 2 (TX), Silver Star (TX), and Aviator Wind (TX).