OMERS completes Oncor deal

subscribe

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

hay river power office

N.W.T. green energy advocate urges using more electricity for heat

HAY RIVER - A Northwest Territories green energy advocate says there's an obvious way to expand demand for electricity in the territory's South Slave region without relying on new mining developments — direct it toward heating.

One of the reasons the N.W.T. has always had some of the highest electricity rates in Canada is that a small number of people have to shoulder the huge costs of hydro facilities and power plants.

But some observers point out that residents consume as much energy for heat as they do for conventional uses of electricity, such as lighting and powering appliances. Right now almost…

READ MORE
us solar and wind power future graph

Solar PV and wind power in the US continue to grow amid favourable government plans

READ MORE

BC Hydro cryptic about crypto mining electricity use

READ MORE

Cape Town settlement

Does Providing Electricity To The Poor Reduce Poverty? Maybe Not

READ MORE

spain solar panels

Spain plans switch to 100% renewable electricity by 2050

READ MORE