OMERS Infrastructure Announces Signing of Agreement to Sell its Complete Interest in Vento II
OMERS Infrastructure today announced that it has signed an agreement to sell its minority interest in a 596MW portfolio of four wind assets located in Illinois, Texas, Oregon and Minnesota (“Vento II”), at a purchase price of approximately US$196.5M1 to Atlantica Sustainable Infrastructure.
“We have been invested in Vento since 2012. We are proud of what we have helped accomplish at this asset while working alongside world-class operators and our valued partners EDPR North America,” said Gisele Everett, Senior Managing Director, Americas for OMERS Infrastructure. “We wish Atlantica Sustainable Infrastructure and EDPR North America every success in their work together. OMERS remains strongly interested in the renewables sector, and we continue to aggressively grow our presence in the sector through our existing, wholly-owned U.S.-based wind and solar platform and through the identification of additional opportunities to participate in renewables and energy transition investments globally,” she added.
The transaction is expected to close in the second quarter of 2021, after obtaining regulatory approvals and meeting customary closing conditions. Scotiabank served as transaction advisor to OMERS Infrastructure.
Contact:
Neil Hrab
Manager, Media Relations
416-369-2418
nhrab@omers.com
1 NOTE: this figure is subject to certain closing price adjustments.
About OMERS and OMERS Infrastructure:
OMERS Infrastructure manages investments globally in infrastructure on behalf of OMERS, the defined benefit pension plan for municipal employees in the Province of Ontario, Canada. Investments are aimed at steady returns to help deliver sustainable, affordable and meaningful pensions to OMERS members.
OMERS diversified portfolio of large-scale infrastructure assets exhibits stability and strong cash flows, in sectors including energy, digital services, transportation and government-regulated services. OMERS teams work in Toronto, London, New York, Amsterdam, Luxembourg, Singapore, Sydney and other major cities across North America and Europe – serving members and employers, and originating and managing a diversified portfolio of high-quality investments in public markets, private equity, infrastructure and real estate. OMERS is one of Canada's largest defined benefit pension funds, with net assets of C$105 billion.
For more information, please visit: www.omersinfrastructure.com