Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers B > Headlines for Banco Santander SA > News item |
Ontario Teachers’, PSP, Banco Santander to jointly own $2 billion wind, solar and water assets
By Lisa Kerner
Charlotte, N.C., Dec. 22 – Ontario Teachers' Pension Plan and the Public Sector Pension Investment Board (PSP Investments) announced an agreement with Banco Santander, SA to jointly acquire a portfolio of renewable energy and water infrastructure assets currently owned solely by Santander.
The assets, valued at more that $2 billion, will be transferred to a new company owned equally by all three parties in a transaction slated to close within the first half of 2015, according to a news release.
Included in the portfolio are wind, solar and water infrastructure assets located in seven countries that are operating or in development.
“This investment directly supports our focus on investing in platforms that provide access to development opportunities globally,” said Teachers’ senior vice president, Infrastructure, Andrew Claerhout.
Both Teachers’ and PSP’s investments were led by their Infrastructure groups, which manage a global portfolio of C$11.7 billion and C$6 billion, respectively.
Santander's sale was led by its Asset & Capital Structuring team.
The Ontario Teachers' Pension Plan is a Toronto-based independent corporation responsible for investing assets and administering the pension of Ontario's teachers.
PSP Investments is a Canadian pension investment manager based in Montreal.
Banco Santander is a bank based in Madrid.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.