Ontario Teachers to pay almost $1.5bn for stake in UK electricity transmission network SSEN

The C$242bn-managing Ontario Teachers’ Pension Plan has agreed to pay almost $1.5bn for a 25% stake in the electricity transmission network of Scotland-based energy provider SSE.

SSEN Transmission transports electricity generated from renewable resources – including onshore and offshore wind and hydro – from the north of Scotland across more than a quarter of the UK land mass.

Charles Thomazi, head of EMEA infrastructure and natural resources at Ontario Teachers’ said, “SSEN Transmission is one of Europe’s fastest growing transmission networks. Its network stretches across some of the most challenging terrain in Scotland – from the North Sea and across the Highlands – to deliver safe, reliable, renewable energy to demand centres across the UK.

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“We’re delighted to partner again with SSE and are committed to supporting the growth of its network and the vital role it plays in the UK’s green energy revolution.”

Ontario Teachers other investments include Caruna, Finland’s largest electricity distributor, Evoltz, a leading electricity transmission platform in Brazil, and Spark Infrastructure, which invests in essential energy infrastructure in Australia.

Recent deals from Ontario Teachers’ include exiting funeral services company Mémora Group to Spanish insurance company Grupo Catalana Occidente for a €600m enterprise value.

Source: AltAssets

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