The Investment Management Corporation of Ontario (IMCO) has agreed to acquire 100 percent of U.K. power generator Green Frog Power.
IMCO is planning to inject up to $500 million in Green Frog over the next several years in an effort to transform the company into an owner and operator of utility-scale batteries and allow IMCO and Green Frog to establish a global, utility-scale platform focused on battery storage assets.
Tim Formuziewich, managing director of global infrastructure at IMCO, said the acquisition will give IMCO access to a leading flexible generation platform and a substantial development pipeline in what they believe is the early stages of a trillion-dollar utility-scale battery sector.
“IMCO is actively seeking new and innovative ways to participate in the global transition toward a low-carbon future while accessing compelling returns for our clients,” added Bert Clark, president and CEO of IMCO. “This acquisition is an excellent example of t
