PSP buys New England hydroelectric assets in $1.2 billion deal

Thu Feb 25, 2016 9:09am EST
 
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TORONTO Feb 25 (Reuters) - PSP Investments, one of Canada's largest public pension funds, has agreed to acquire a New England portfolio of hydroelectric assets totalling 1.4 gigawatts (GW) for an enterprise value of $1.2 billion, it said on Thursday.

PSP said it planned to maximise the potential benefits of owning the assets by utilising the operational expertise of its existing hydroelectric power platform, H20 Power.

"The purchased assets are an excellent fit with PSP Investments' long-term investment horizon and its strategy to leverage industry-specialized platforms, such as H20 Power," said Guthrie Stewart, PSP's head of private investments. (Reporting by Matt Scuffham)