N American duo eye green grid
Anbaric Development Partners projected to develop $2bn in assets
Transmission and microgrid developer Anbaric is partnering with the Ontario Teachers’ Pension Plan to build clean energy infrastructure projects in North America.
The duo have formed Anbaric Development Partners, which will be led by Anbaric's management team.
The Ontario Teachers’ will fund development costs, which are projected to produce $2bn in constructed assets.
Anbaric founder and chief executive Edward Krapels said: “Ontario Teachers’ investment in Anbaric creates an attractive launching pad for generating innovative energy jobs and boosting local economies while replacing our deteriorating and outdated fossil fuel-oriented grid with new and sustainable energy alternatives.
“This includes sophisticated high-voltage direct current transmission technology and microgrid projects that will bring renewables online with greater efficiency.”
Ontario Teachers’ senior managing director for infrastructure and natural resources Andrew Claerhout said: “This investment fits our goal of finding new ways to diversify through opportunities that have significant, long-term revenue stream potential.”