A DIF managed infrastructure fund is buying BluEarth Renewables from Ontario Teachers’ Pension Plan.

DIF Infrastructure V has signed an agreement to acquire the Canadian renewable energy firm from the pension institution for an undisclosed sum.

BluEarth develops, builds, owns and operates wind, hydro and solar facilities. Since its inception in 2010, BluEarth has developed and acquired 19 hydro, wind and solar projects across North America, representing 405MW of gross capacity.

Paul Huebener, partner and DIF’s head of Americas said: “We are excited to support BluEarth in its next phase of growth.

“The BluEarth team and its portfolio of stable renewable energy projects are a key addition in DIF’s continued expansion in North America.”