The infrastructure management arm of the Ontario Municipal Employees Retirement System (OMERS) is buying a US wind power operator from ArcLight Capital Partners.
OMERS Infrastructure Management said it has agreed to buy Leeward Renewable Energy from the private equity firm’s subsidiary for an undisclosed sum.
Ralph Berg, the executive vice president and global head of infrastructure at OMERS Private Markets, said: “On behalf of OMERS Infrastructure, we are very pleased to announce our investment in Leeward, a high quality, core infrastructure business that we expect will generate stable and consistent returns for the OMERS pension plan.”
The deal which is subject to approvals is expected to close in the third quarter of 2018.
Leeward is a developer of wind projects in the US across 19 operating projects with a total installed capacity of 1.7GW.