A password will be e-mailed to you.

OMERS Infrastructure Sells 596MW Wind Assets located in America
These wind assets to be sold to and UK based sustainable company

OMERS infrastructure announced yesterday its agreement with Atlantica sustainable Infrastructure about selling its 569MW wind assets located in Texas, Illinois, Minnesota, and Oregon.

OMERS Infrastructure Year in Review

Credits- Pension Pulse

The deal is closed around $196.5 Million US dollars for all the assets. However, the final transaction is expected to close by July this year. Scotiabank is going to serve OMERS infrastructure as a transaction advisor.

Selling its minority interests

OMERS infrastructure manages the OMERS investments on a global scale. Gisele Everett is the senior managing director in OMERS. According to his statement, “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.”

Furthermore, he added, “We wish Atlantica Sustainable Infrastructure and EDPR North America every success in their work together.”

Recently, Atlantica Sustainable Infrastructure has grown its share value in the market. It is a NASDAQ listed company, which recently received 180% returns as per the NASDAQ website reports.

Talking about OMERS being committed to sustainable energy, the managing director said, “OMERS remains strongly interested in the renewables sector, and we continue to aggressively grow our presence in the sector through our existing, wholly-owned US-based wind and solar platform and through the identification of additional opportunities to participate in renewables and energy transition investments globally.”

Atlantic sustainable infrastructure

As the pandemic raised last year, the decrease in value and the current increase in value is considered normal. A 106% growth is being considered as profitable. However, Atlantic sustainable infrastructure has gained an average of 3.2% per year for the last ten years.

Additionally, there has been a 16% increase in their share value in the last six years, showing promising growth in the future. Besides, the growing importance of sustainable products like EVs and renewable energy resources is drastic. Every country’s current focus is on making environmental-friendly infrastructure, to reduce pollution levels and fuel costs to import fuels.

Upon their agreement with OMERS Infrastructure, the Atlantica CEO said to Global News Wire, “This investment, which should be highly accretive to Atlantica, increases and diversifies our presence in North America, while it allows us to continue delivering on our ESG commitments. These assets present significant repowering opportunities and will offer a substantial value post-PPA.”

Interestingly, the company was founded only a decade ago, in 20213. As per Bloomberg’s portfolio on the company, t has 306 employees. Additionally, Atlantica is located in Green West Road Brentford in the UK. Besides, the renewable energy sources, the company also has natural gas and offers different services on water transportation, transmission, and other transportation.

Comments

comments

No more articles
Send this to a friend