Monday, July 15, 2024

Ontario Teachers continues infrastructure drive

Ontario Teachers, the $242.5bn Canadian pension plan, has continued its push into infrastructure investments, acquiring a 25% stake in SSE’s electricity transmission business.

The Scotland-based energy provider provides clean renewable energy to millions of UK homes and businesses.

The transaction, which should close soon, has an expected value of £1.5bn ($1.8bn), according to a statement from Ontario Teachers.

Rob McDonald, managing director of SSEN Transmission, said the investment would help fund “ambitious investment plans as we continue to deliver a network for net zero emissions across the north of Scotland.” 

Ontario Teachers’ Infrastructure & Natural Resources group invests in electricity infrastructure globally with the aim of  to accelerating the energy transition.

Current investments include Caruna, Finland’s largest electricity distributor, Evoltz, an electricity transmission platform in Brazil and Spark Infrastructure in Australia.