DIF Infrastructure V has signed an agreement to acquire 100 percent of the equity interest of BluEarth Renewables from Ontario Teachers’ Pension Plan (OTPP). A price was not disclosed.
BluEarth is an independent power producer that develops, builds, owns and operates wind, hydro and solar facilities. Since its inception in 2010, BluEarth has developed and acquired 19 hydro, wind and solar projects across North America, representing 405 megawatts of gross capacity. Headquartered in Calgary, Alberta, the company has been recognized as one of Alberta’s Top 75 Employers.
The investment fits within DIF V’s mandate to acquire infrastructure and renewable energy assets.
The transaction is subject to receipt of usual and customary regulatory approvals and consents for transactions of this nature. Closing is expected to take place in the course of 2019.
