OMERS Infrastructure today announced that it has signed an agreement to sell its minority interest in a 596MW portfolio of four wind assets located in Illinois, Texas, Oregon and Minnesota (“Vento II”), at a purchase price of approximately US$196.5M[1] to Atlantica Sustainable Infrastructure.
“We have been invested in Vento since 2012. We are proud of what we have helped accomplish at this asset while working alongside world-class operators and our valued partners EDPR North America,” said Gisele Everett, Senior Managing Director, Americas for OMERS Infrastructure. “We wish Atlantica Sustainable Infrastructure and EDPR North America every success in their work together. OMERS remains strongly interested in the renewables sector, and we continue to aggressively grow our presence in the sector through our existing, wholly-owned U.S.-based wind and solar platform and through the identification of additional opportunities to participate in renewables and energy transition investments globally,” she added.
The transaction is expected to close in the second quarter of 2021, after obtaining regulatory approvals and meeting customary closing conditions. Scotiabank served as transaction advisor to OMERS Infrastructure.
[1] NOTE: this figure is subject to certain closing price adjustments.
