OMERS Infrastructure Sells Interest in a Wind Portfolio to Atlantica Sustainable Infrastructure
Posted on 04/09/2021
Disclosed on April 8, 2021, OMERS Infrastructure signed an agreement to sell its 49% 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$ 196.5 million to Atlantica Sustainable Infrastructure plc. The assets have PPAs with investment grade off-takers with 5 years average remaining contract life and have demonstrated proven operational track record. Pro-forma including this acquisition, Atlantica’s portfolio average contract life is 16 years as of March 31, 2021.
OMERS has invested in Vento since 2012.
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.
