Canada’s pension fund OMERS seeks new green energy deals
Canadian pension fund Ontario Municipal Employees’ Retirement System (OMERS) is scouting for acquisition opportunities in India, in an affirmation of the country’s position as a green energy hot-spot.
With net assets of more than $100 billion under management, OMERS has been attracted by the presence of other Canadian investors in India such as Canada Pension Plan Investment Board (CPPIB), Caisse de dépôt et placement du Québec (CDPQ) and Brookfield Asset Management.
This comes at a time when India’s emerging green economy is expected to require investments of around $80 billion till 2022, growing more than three-fold to $250 billion during 2023-30.
“The next big play is expected from OMERS which is actively scouting for acquisitions in India’s clean energy sector. The investment thesis about India being an attractive investment destination continues for them,” said a person aware of the development requesting anonymity.
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