Ontario Teachers, PSP partner in buy of renewable energy and water assets
Ontario Teachers' Pension Plan and the Public Sector Pension Investment Board (PSP Investments) have agreed to partner with Spanish financial institution Banco Santander SA in the purchase of a global portfolio of wind, solar and water infrastructure assets. The assets, which are valued at more than US$2 billion, are currently owned by Santander. The deal will see the assets transferred to a new company owned equally by Ontario Teachers, PSP and Santander. The three investors also plan to invest "significant additional amounts" in the new company over the next five years. It is expected that the transaction will be completed in the first half of 2015.
22 December 2014•4 mins read
