November 21st, 2019

Ontario Teachers Pension sells renewable energy company with current proposals for southeast Alberta

By Medicine Hat News on May 16, 2019.

The Ontario Teachers Pension Fund has sold a renewable energy development company that has two proposed projects in southeast Alberta.

Bluearth Renewables announced Wednesday that the massive investment company would sell its founding, 100-per-cent stake to European infrastructure fund manager DIF. The terms were not disclosed.

In Western Canada, Bluearth has proposals before Alberta regulators to build the 19-megawatt Yellow Lake Solar farm and 20-MW Burdett solar project, both in the County of Forty Mile.

The company previously commissioned the Bull Creek wind farm, near Wainwright, which sells power in a block contract to participating Alberta school boards, including the Prairie Rose School Division.

Its development portfolio shows projects totalling 1 gigawatt of renewable power capacity in Saskatchewan, Ontario, Wyoming and the U.S. mid-west.

Dutch-based DIF has offices in Toronto.

The particular fund, known as DIF V, raised 1.5 billion Euros in May 2018, and targets public-private partnerships, regulated assets and renewable energy projects in Europe, North America and Australia.

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