Canadian Teachers Back Solar, Wind Project Acquisitions Across US

November 28, 2022 by Dan McCue
Canadian Teachers Back Solar, Wind Project Acquisitions Across US
(NextEra photo)

WASHINGTON — The Ontario Teachers’ Pension Plan Board has agreed to provide $805 million in financing to NextEra Energy Partners to help it acquire a 2 GW portfolio of solar, storage and wind assets across the United States.

The deal is part of the sale of assets from NextEra Energy Resources to NextEra Energy Partners, both subsidiaries of NextEra Energy. 

The portfolio consists of nine operational solar, storage and wind facilities and four that are newly constructed, but not yet fully operational. 

Regardless of their current status, all of the assets have long-term power purchase agreements in place.

“We are pleased to build on our partnership with NextEra Energy Resources and NextEra Energy Partners, a world leader in renewable energy generation, and to make another significant investment in a portfolio of high-quality wind and solar energy assets,” said Chris Ireland, the pension plan’s senior managing director, for Greenfield and Renewables, in a written statement

Current investments by the pension fund include development-focused platforms such as Cubico Sustainable Investments, Anbaric Development Partners, Equis Development and Corio Generation, as well as a direct ownership stake in a portfolio of operating assets alongside NextEra Energy Resources. 

Total pro-rata capacity of the Greenfield and Renewables portfolio equals approximately 5.6 gigawatts.  

Ontario Teachers’ expects to close the transaction later this year or in early 2023, subject to customary closing conditions and receipt of certain regulatory approvals. 

Dan can be reached at [email protected] and at https://twitter.com/DanMcCue

A+
a-
  • NextEra Energy Partners
  • Ontario Teachers' Pension Plan Board
  • renewable energy
  • solar
  • storage
  • In The News

    Health

    Voting

    Renewable Energy

    February 27, 2024
    by Dan McCue
    Energy Department to Award $366M to Projects in Tribal, Rural Communities

    WASHINGTON — The U.S. Department of Energy on Tuesday announced it is awarding $366 million to 17 projects intended to... Read More

    WASHINGTON — The U.S. Department of Energy on Tuesday announced it is awarding $366 million to 17 projects intended to bring power and much-needed clean energy upgrades to rural and remote areas across the country. Of the projects, a dozen will be undertaken on tribal lands... Read More

    February 22, 2024
    by Dan McCue
    EPA, Energy Dept. Announce Availability of $9.4M in Funding for Biofuel Projects

    WASHINGTON — The Environmental Protection Agency and the U.S. Department of Energy are making $9.4 million available to support “high... Read More

    WASHINGTON — The Environmental Protection Agency and the U.S. Department of Energy are making $9.4 million available to support “high impact” technology projects in the advanced biofuels space. The funding is being made available through the Inflation Reduction Act and will be administered by the Energy... Read More

    February 20, 2024
    by Dan McCue
    EPA Issues Permit Advancing Offshore Wind Project in New York

    WASHINGTON — The Environmental Protection Agency granted a Clean Air Act permit to New York’s Empire Offshore Wind project, a... Read More

    WASHINGTON — The Environmental Protection Agency granted a Clean Air Act permit to New York’s Empire Offshore Wind project, a critical step in advancing the development of the massive wind farm off the Long Island coast. The EPA issued the permit to project owner Equinor on... Read More

    February 13, 2024
    by Dan McCue
    Feds Designate Two Massive Areas for Wind Farm Development Off Oregon Coast

    WASHINGTON— The Bureau of Ocean Energy Management on Monday announced it has designated two large swaths of sea off the... Read More

    WASHINGTON— The Bureau of Ocean Energy Management on Monday announced it has designated two large swaths of sea off the Oregon coast as ripe for wind energy development. The two areas total roughly 195,012 acres, and according to the agency, “avoid 98% of the areas recommended... Read More

    February 12, 2024
    by Dan McCue
    Energy Dept. to Invest $4.75M in National Center for Offshore Wind

    WASHINGTON — The Department of Energy is investing $4.75 million to establish a new national center of excellence to accelerate... Read More

    WASHINGTON — The Department of Energy is investing $4.75 million to establish a new national center of excellence to accelerate the development of “reliable and equitable” offshore wind power in the United States. The Academic Center for Reliability and Resilience of Offshore Wind will be led... Read More

    February 12, 2024
    by Dan McCue
    Survey Finds Public Broadly Supports Biden’s Wind Energy Goals

    WASHINGTON — A recent survey shows that large swaths of the public support President Joe Biden’s offshore wind and renewable... Read More

    WASHINGTON — A recent survey shows that large swaths of the public support President Joe Biden’s offshore wind and renewable agenda, but they nevertheless continue to knock him on job performance. The survey of 2,038 adults in U.S. coastal counties was conducted late last year by... Read More

    News From The Well
    scroll top