Ontario Teachers' to buy ARC Financial's stake in BluEarth Renewables

Teachers' Private Capital, the private equity investment arm of the Ontario Teachers' Pension Plan, has agreed to acquire the outstanding shares of BluEarth Renewables Inc owned by ARC Financial Corp and minority investors. BluEarth management and employees will keep an ownership stake. The financial terms of the deal were not disclosed. Last November, BluEarth said it had raised over $250 million in equity from ARC, Teachers and other investors. The Calgary-based BluEarth is a renewable power producer focused on the acquisition, development and operation of wind, water and solar projects. Earlier this week, it completed its purchases of solar power assets from Canadian Solar Inc.

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