May 16 (Renewables Now) - The Ontario Teachers' Pension Plan (OTPP) is selling its 100% shareholding in Canadian renewable power producer BluEarth Renewables LP to a fund owned by Dutch fund manager DIF.
Calgary-based BluEarth focuses on the acquisition, development, construction, ownership and operation of wind, hydropower and solar parks in North America. It has 333 MW net under construction or in operation in its portfolio and an additional 1,000 MW under development.
The ownership of the Canadian firm will be transferred to DIF Infrastructure V, OTPP announced on Wednesday without disclosing reasons for the sale. The deal is pending regulatory clearance and is expected to be completed this year.
"We have had great success with Ontario Teachers' as a founding shareholder, and we look forward to continuing to grow our platform model, including our focus on US growth, with the support of DIF V," said Grant Arnold, president and CEO of BluEarth.