Ontario Teachers’ Pension Plan Board and Morrison & Co., on behalf of the Utilities Trust of Australia (UTA) have acquired an ownership stake in the Sydney Desalination Plant (SDP) from The Infrastructure Fund's (TIF).
As a result of the transaction, Ontario Teachers’ ownership of SDP will increase to 60 percent, while UTA’s interest, managed by Morrison & Co., will increase to 40 percent.
Ontario Teachers’, UTA and TIF acquired SDP in 2012 through a 50-year lease from the Government of New South Wales. Powered by renewable energy, SDP can supply up to 250 million liters of drinking water per day; 15 percent of Sydney’s water needs.
“Australia remains an important investment destination for us, particularly as we look to expand our portfolio in the Asia-Pacific region in the coming years,” said Dale Burgess, senior managing director of infrastructure & natural resources of Ontario Teachers. “We look forward to continuing to work side-
