DOE Provides $118M Boost to Domestic Biofuel Industry
Canadian Teachers Back Solar, Wind Project Acquisitions Across US
November 28, 2022 by Dan McCue
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 dan@thewellnews.com and at https://twitter.com/DanMcCue
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