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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