Ontario Teachers’ Pension Plan Board, a global investor with net assets of $245.5 billion headquartered in Ontario, Canada, has invested approximately USD$805 million in a convertible equity portfolio financing with NextEra Energy Partners LP, an acquirer, manager and owner of contracted clean energy projects with long-term cash flows.
The approximately two-gigawatt portfolio comprises four newly-construct and nine operating wind, solar and energy storage assets geographically across U.S. power markets. The investment was made by the greenfield and renewables team, which is part of the infrastructure and natural resources department at Ontario Teachers’.
“This portfolio of assets based across the U.S. is a strong complement to our existing portfolio and gives us additional exposure to the U.S. market,” states Chris Ireland, senior managing director of greenfield and renewables at Ontario Teachers’.
Ontario Teachers’ financial advisor was TD Securities and legal advisor was Kirkland & Ellis LLP.