Author Bio
Rekha Khandelwal, CFA, is a long-term investor with a special focus on energy stocks. Rekha holds a master s in finance and has worked as a financial consultant. When she isn t writing, she can be found traveling to a new city or country.
For investors, the chief concern when it comes to investing in renewable energy companies is their generally erratic performance. Even after decades, the industry is still evolving. It may take several more years, if not decades, before some companies in the renewable energy space start generating steady profits.
However, against that backdrop, there are other renewable energy companies that are not only generating steady cash flows but are also paying hefty dividends to their shareholders. Here are three that are already doing well and look set to grow in the long run.
The investment manager for a Canadian pension fund has signed an agreement to sell its minority interest in a 596MW portfolio of four wind farms in the US states of Illinois, Texas, Oregon and Minnesota.
OMERS Infrastructure is offloading the stakes in the portfolio, known collectively as Vento 2, to Atlantica Sustainable Infrastructure for approximately $196.5m.
OMERS Infrastructure manages investments globally in infrastructure on behalf of OMERS, the defined benefit pension plan for municipal employees in the province of Ontario, Canada.
OMERS Infrastructure Americas senior managing director Gisele Everett said: “We have been invested in Vento since 2012. We are proud of what we have helped accomplish at this asset while working alongside world-class operators and our valued partners EDPR North America.
Atlantica Announces an Agreement to Acquire a 49% Interest in a 596 MW Wind Portfolio in the US padovanews.it - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from padovanews.it Daily Mail and Mail on Sunday newspapers.
OMERS Infrastructure Sells Interest in a Wind Portfolio to Atlantica Sustainable Infrastructure
Posted on 04/09/2021
Disclosed on April 8, 2021, OMERS Infrastructure signed an agreement to sell its 49% minority interest in a 596MW portfolio of four wind assets located in Illinois, Texas, Oregon, and Minnesota (Vento II), at a purchase price of approximately US$ 196.5 million to Atlantica Sustainable Infrastructure plc. The assets have PPAs with investment grade off-takers with 5 years average remaining contract life and have demonstrated proven operational track record. Pro-forma including this acquisition, Atlantica’s portfolio average contract life is 16 years as of March 31, 2021.
OMERS has invested in Vento since 2012.
The transaction is expected to close in the second quarter of 2021, after obtaining regulatory approvals and meeting customary closing conditions. Scotiabank served as transaction advisor to OMERS Infrastructure.
Measures
This press release also includes certain non-GAAP financial measures, including EBITDA. Non-GAAP financial measures are not measurements of performance or liquidity under IFRS as issued by IASB and should not be considered alternatives to operating profit or profit for the period or any other performance measures derived in accordance with IFRS as issued by the IASB or any other generally accepted accounting principles or as alternatives to cash flow from operating, investing or financing activities. Please refer to the reconciliation of the non-GAAP financial measures included in this press release to the most directly comparable financial measures prepared in accordance with IFRS. Also, please refer to the following paragraphs in this section for an explanation of the reasons why management believes the use of non-GAAP financial measures (including EBITDA) in this press release provides useful information to investors.