Ontario Teachers’ Pension Plan (Teachers’) announced a $75 million equity investment in BluEarth Renewables Inc. (BluEarth), a privately held company focused on acquiring, developing, constructing and operating hydro, wind and solar power projects in North America.
BluEarth, a Calgary-based company recently formed by the founders and senior management of Canadian Hydro Developers Inc., has now raised over $160 million in equity from ARC Financial Corp., Teachers’, management and other investors to fund its business plan.
“With the great support of our investors, Teachers’ and ARC, we are well positioned to acquire and develop renewable power projects and operating assets that may be lacking capital and experience,” said Kent Brown, President & CEO of BluEarth. “With the capital to support our growth strategy and Canada’s most experienced renewable energy team, we have a powerful combination to propel BluEarth into a leading renewable power producer.”
Teachers’ Private Capital is one of the world’s largest private equity investors. It is the private investment department of the Ontario Teachers’ Pension Plan. With $96.4 billion in assets as of December 31, 2009, the Ontario Teachers’ Pension Plan is the largest single-profession pension plan in Canada.
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