OMERS completes Oncor deal

TORONTO, ONTARIO - The $52 billion Ontario Municipal EmployeesÂ’ Retirement System (OMERS) has confirmed it has taken a stake in Texan electricity company Oncor.

The deal was structured through the pension fundÂ’s investment brand OMERS Worldwide and infrastructure subsidiary Borealis Investment, in association with the Singaporean sovereign wealth fund Government of Singapore Investment Corporation (GIC).

The group has acquired slightly under a fifth of the company (19.75%) for [US]$1.25 billion.

Michael Rolland, president & CEO of Borealis Infrastructure, commented: "Borealis Infrastructure continues to seek and invest in high quality domestic and global infrastructure assets, in furtherance of OMERS long-term goal of investing 42.5% of net investment assets in private markets on a global basis.

"By leveraging the financial resources of the OMERS pension plan, with the active asset management expertise and discipline of the infrastructure team at Borealis, we are able to partner with like-minded investors such as GIC to participate in deals such as this."

Related News

nissan vehicle to grid connection

Vehicle-to-grid could be ‘capacity on wheels’ for electricity networks

WASHINGTON - “There are already many Gigawatt-hours of batteries on wheels”, which could be used to provide balance and flexibility to electrical grids, if the “ultimate potential” of vehicle-to-grid (V2G) technology could be harnessed.

That’s according to a panel of experts and stakeholders convened by our sister site Current±, which covers the business models and technologies inherent to the low carbon transition to decentralised and clean energy. Focusing mainly on the UK but opening up the conversation to other territories and the technologies themselves, representatives including distribution network operator (DNO) Northern Powergrid’s policy and markets director and Nissan Europe’s director of…

READ MORE
harbour air electric plane

Is this the start of an aviation revolution?

READ MORE

wind farm

DOE Announces $28M Award for Wind Energy

READ MORE

electric vehicle

Opinion: The awesome, revolutionary electric-car revolution that doesn't actually exist

READ MORE

pickering ngs

Ontario will refurbish Pickering B NGS

READ MORE