Two of Canada’s leading pension funds are taking an ownership stake in a $2 billion portfolio of solar, wind, and water infrastructure projects spanning seven countries.
Early this year, the Ontario Teachers’ Pension Fund and the Public Sector Pension Investment Board (PSP) will form a joint venture company with Santander, the European commercial bank that previously owned the projects outright.
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The two pension funds are expected to make significant new investments over the next five years, PV-Tech reports. The decision is consistent with PSP’s “strategy of deploying capital in sizeable opportunities that offer long-term revenues and growth potential along with solid partners,” said Bruno Guilmette, senior vice president of infrastructure investments.