CPPIB to acquire Canadian wind and solar portfolio from NextEra

Facebook
Twitter
LinkedIn
Reddit
Email
Credit: NextEra

Canada Pension Plan Investment Board (CPPIB) will acquire a 396MW portfolio of six operational wind and solar power projects in Canada from Florida-headquartered NextEra Energy Partners for US$741 million.

The portfolio includes four wind and two solar projects in Ontario. Affiliates of NextEra Energy Partners, who developed and currently operate the portfolio, will continue to be the operator under a long-term agreement. The assets began operations between 2012-2015.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

“This opportunity to acquire a sizeable portfolio of operating renewables projects provides immediate scale and exposure to a core sector for CPPIB’s broader North American and global power and renewables strategy,” said Bruce Hogg, managing director, head of Power and Renewables, CPPIB.

The transaction represents CPPIB’s third significant investment in the global renewables sector, having previously committed to wind and solar investments in Brazil, India and now Canada. It also recently helped Indian firm ReNew Power acquire Ostro Energy in one of India's larget ever renewable energy deals.

The transaction with NextEra is subject to customary regulatory approvals and closing conditions and is expected to close during the second quarter of 2018.

Read Next

Subscribe to Newsletter

Upcoming Events

Solar Media Events
April 10, 2024
Dallas, Texas USA
Solar Media Events
April 17, 2024
Lisbon, Portugal
Solar Media Events
May 1, 2024
Dallas, Texas
Solar Media Events
May 21, 2024
Napa, USA