Ontario Teachers’ Pension Plan Board’s Partnership With Corio Generation

In UK Linklaters, advised on the matter.

Linklaters advised Ontario Teachers’ Pension Plan Board with a team including Michael Honan (Picture – Corporate M&A).

Ontario Teachers’ Pension Plan Board (Ontario Teachers’) signed a partnership with Corio Generation (Corio), a specialist offshore wind business, to develop an initial portfolio of up to 9GW of offshore wind projects across South Korea, Taiwan, Japan, Ireland and the UK.

The portfolio will consist of 14 fixed bottom and floating projects, all of which are currently under development by Corio, with Ontario Teachers’ set to acquire up to half of Corio’s stake in these projects to support their development, construction and operation.  

Ontario Teachers’ and Corio will look to explore opportunities to expand the partnership through the creation or acquisition of new projects. In total, the initial partnership represents a total investment of up to US$1bn in development capital from Ontario Teachers’.

Linklaters’ cross-practice team comprised of partners Michael Honan (Picture – Corporate) and Ross Schloeffel (Energy & Infrastructure), alongside managing associates Henrietta White, Jennifer Sharp and Christy O’Connell (Corporate), Alexei Franks (Tax), and Albert Yu, Tegan Matthews, Gitanjali Shankar and Arani Chakrabarty (Energy & Infrastructure).

Involved fees earner: Arani Chakrabarty – Linklaters; Alexei Franks – Linklaters; Michael Honan – Linklaters; Tegan Matthews – Linklaters; Christy O’Connell – Linklaters; Ross Schloeffel – Linklaters; Gitanjali Shankar – Linklaters; Jennifer Sharp – Linklaters; Henrietta White – Linklaters; Albert Yu – Linklaters;

Law Firms: Linklaters;

Clients: Ontario Teachers’ Pension Plan Board;

Author: Giulia Di Palma