Ontario Teachers’ Pension to Buy Evoltz from TPG

Posted on 05/10/2021

Founded in 2018, Evoltz Participações S.A. (Evoltz) operates and maintains 3,561 kilometer of electricity transmission lines that cross ten Brazilian states and are distributed into seven concessions (Manaus Transmissora de Energia, Norte Brasil Transmissora de Energia, Evoltz IV, Evoltz V, Evoltz VI, Evoltz VII, and Evoltz VIII). Based out of its headquarters and operational center in Rio de Janeiro, Evoltz is a holding company with end-to-end management of its concessions, leveraging cutting-edge technology and best practices within the electricity transmission sector. Evoltz plays an important role delivering renewable energy to major cities and population centers across Brazil.

Ontario Teachers Pension Plan Board entered into a definitive agreement to buy a 100% interest in Evoltz Participações S.A. from TPG Capital.

“Evoltz is a highly attractive portfolio of power transmission concessions that provides reliable power to businesses and consumers across Brazil,” said Dale Burgess, Senior Managing Director, Infrastructure & Natural Resources at Ontario Teachers’ in a press release. “Our strategy focuses on allocating significant capital to high-quality core infrastructure assets with lower risks and stable inflation-linked cash flows. Electricity transmission businesses are particularly attractive given their importance in facilitating a transition to a low-carbon economy.”

The transaction is expected to close in the third quarter of 2021 and is subject to customary closing conditions and regulatory approvals.

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