Borealis Infrastructure, the infrastructure investment arm of OMERS, will pay $450 million to acquire up to a 31.6% interest in Bruce Power B, which operates four of the eight reactors at the world’s largest nuclear generating facility in Tiverton, Ont.
This sale will increase Borealis’s interest in Bruce Power to 56.1%.
Bruce Power operates the world’s largest nuclear facility that generated 30% of Ontario’s electricity in 2013. While the province owns the assets, Bruce Power operates the facility and provides electricity to Ontarians.
“Bruce Power is an investment that continues to fit with our long-term strategy to invest in core, large-scale and high-quality infrastructure assets,” says Michael Rolland, president and CEO of Borealis.
Related articles: