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OMERS Infrastructure acquires 49% interest in Fotowatio Renewables
With assistance from BigLaw firm Herbert Smith Freehills, OMERS Infrastructure has acquired a 49 per cent interest in Fotowatio Renewables.
Naomi Neilson
Firm: Herbert Smith Freehills (OMERS Infrastructure)
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Deal: Herbert Smith Freehills (HSF) has advised OMERS Infrastructure on its acquisition of a 49 per cent interest in the Fotowatio Renewable Ventures Australian renewable business, comprising 637 megawatts-DC of operational and under-construction solar PV projects, as well as development pipeline comprising 2.7 gigawatts-DC of solar PV projects and 1.3 gigawatt-hours of battery energy storage assets.
Value: N/A.
Area: M&A.
Key players: The team was led by partner David Ryan, with senior associate Michael Trent and solicitors Aditya Shivam and Blair Feng.
Deal significance: OMERS Infrastructure, part of one of Canada’s largest pension funds, is a leading global infrastructure investor.
Mr Ryan commented: “Congratulations to both OMERS Infrastructure and FRV on the start of what will undoubtedly be an exciting and fruitful joint venture for both of them. The Australian energy market is at an exciting crossroads, and the FRV Australia platform is well-positioned to play a leading role in the transition to greater levels of renewable generation.”
