Canadian pension giant Teacher's swoops for giga-scale NextEra US wind and solar stake

A unit of US renewables pacesetter NextEra Energy Resources will sell a 50% non-controlling interest in a 2.5GW portfolio of solar PV and wind projects in nine states to the Ontario Teachers’ Pension Plan Board, among Canada’s largest institutional investors.

The deal, which is expected to close this quarter or in early 2022, represents a major expansion by the pension giant into the fast-growing US solar and wind space that began last decade with its acquisition of independent developer BluEarth Renewables based in Calgary.