Omers plans to buy minority shares in FRV Australia

Fotowatio Renewable Ventures (FRV) has announced the sale of a 49% interest in FRV Australia Group to OMERS Infrastructure.

Under the terms of the Transaction, OMERS Infrastructure will acquire a 49% interest in FRV’s Australian renewable energy platform, including 637 MWDC of six operational and under construction solar PV assets, as well as the development pipeline comprising of approximately 2.7 GWDC of solar PV projects and 1.3 GWh of Battery Energy Storage Systems assets. The transaction is subject to customary regulatory approvals with financial close expected by year-end.

Credit Suisse and White & Case acted as exclusive financial and legal advisors to FRV, respectively, while ICA Partners and Herbert Smith Freehills acted as exclusive financial and legal advisors to OMERS Infrastructure, respectively.