H2O Power, in which the Public Sector Pension Investment Board is a shareholder, is selling its Canadian hydroelectric generation assets to TCorp.

Through the transaction, the investment and financial management partner of the New South Wales public sector will hold a 49 per cent interest in H2O Power’s eight Canadian assets.

Read: PSP Investments sells off Paris office building

“We look forward to the next phase of H2O Power’s development alongside TCorp,” said Patrick Samson, managing director and head of infrastructure investments at the PSP, in a press release. “TCorp is a responsible investor, fully committed to stewardship and aligned with our long-term investment horizon and commitment to upholding high environmental, social and governance standards.”

Stewart Brentnall, chief investment officer at TCorp, said his organization and the PSP share common objectives, values and investment horizons. “This renewable energy infrastructure investment allows us to expand our global investments, further diversify risk and provide positive, sustainable returns over the long term.”

Copyright © 2020 Transcontinental Media G.P. Originally published on benefitscanada.com

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