OMERS’ Acquisition of 49 per cent of FRV Australia

White & Case advised Fotowatio Renewable Ventures on the deal.

Fotowatio Renewable Ventures (FRV) announced the sale of 49 per cent of FRV Australia to Canadian pension fund OMERS.

OMERS Infrastructure will acquire a 49 percent interest in FRV’s Australian renewable energy platform, including 637 MWDC of six operational and under construction solar PV assets and a development pipeline comprising of approximately 2.7GWDC of solar PV projects and approximately 1.3GWh of Battery Energy Storage Systems assets.

Fotowatio Renewable Ventures (FRV)(link is external) is a Spain based developer of solar and wind energy. It was founded in 2006, initially as a solar energy developer. Since 2017, it also began developing wind energy projects too. It is active in many markets around the world. As of 2020, it has so far developed almost 1GW of solar and wind energy across many sites. It plans to rapidly accelerate its growth and develop another 2.5GW by 2024.

The Ontario Municipal Employees Retirement System (OMERS) is a Canadian pension fund created by Ontario provincial statute in 1962 to manage the retirement benefits of all local government employees in the Canadian province of Ontario.

The White & Case team in Australia that advised on the transaction was led by partners Brendan Quinn (Picture), Nirangjan Nagarajah (both Melbourne) and Chris Flynn (Sydney), and included partner Candice Ota (Melbourne), local partner Mark Montag (Sydney), counsel Andrea Reeves (Melbourne) and associates Girish Rao (Melbourne), Mavis Loke and Tom Hannah (both Sydney).

Involved fees earner: Christopher Flynn – White & Case; Tom Hannah – White & Case; Mark Montag – White & Case; Nirangjan Nagarajah – White & Case; Candice Ota – White & Case; Brendan Quinn – White & Case; Girish Rao – White & Case; Andrea Reeves – White & Case;

Law Firms: White & Case;

Clients: Fotowatio Renewable Ventures;