OMERS Infrastructure Announces Agreement to Acquire Leeward Renewable Energy

DALLAS, March 22, 2018 (GLOBE NEWSWIRE) — OMERS Infrastructure Management, Inc. (“OMERS Infrastructure”), the infrastructure management arm of OMERS, the defined benefit pension plan for municipal employees in the Province of Ontario, Canada, is pleased to announce the signing of definitive documentation to acquire Leeward Renewable Energy, LLC (“Leeward” or the “Company”) from affiliates of ArcLight Capital Partners, LLC (“ArcLight”) (the “Transaction”). Leeward is a leading wind power asset owner, operator and developer of wind projects in the United States across 19 operating projects with a total installed capacity of 1.7 GW. The Transaction is expected to close in the third quarter of 2018 and remains subject to customary approvals.

“On behalf of OMERS Infrastructure, we are very pleased to announce our investment in Leeward, a high quality, core infrastructure business that we expect will generate stable and consistent returns for the OMERS pension plan. We look forward to working together with the management team at Leeward to continue the company’s growth trajectory,” said Ralph Berg, Executive Vice President & Global Head of Infrastructure, OMERS Private Markets.

“Leeward is excited to join the OMERS Infrastructure portfolio. Our team looks forward to continuing to operate our sizable portfolio safely, developing additional greenfield projects and executing on innovative re-powering initiatives to build Leeward into an industry leader for years to come,” said Greg Wolf, Leeward Chief Executive Officer.

“Since ArcLight’s acquisition of Leeward in 2015, Greg and his team have greatly improved the performance of the existing fleet and positioned the Company for growth. Upon closing of the Transaction, we believe Leeward’s partnership with OMERS Infrastructure will only enhance the Company’s role in the renewable energy future of the U.S. power markets,” said Dan Revers, ArcLight founder and managing partner.

Wells Fargo Securities, LLC is serving as exclusive financial advisor to OMERS Infrastructure, and Shearman & Sterling LLP is legal counsel. BofA Merrill Lynch acted as exclusive financial advisor to Leeward, and Latham & Watkins LLP acted as legal advisor to Leeward.

For Further Information:

OMERS:
Neil Hrab
Manager, External Communications and Media Relations
nhrab@omers.com
+1 416.369.2418

Description of Leeward

Dallas-based Leeward Renewable Energy, LLC is a growth-oriented company formed to own, operate, develop and acquire a diversified portfolio of renewable energy assets. Leeward maintains ownership and operating interests in 19 wind farms comprising 1.7 GW across the United States. For more information about Leeward visit leewardenergy.com.

Description of OMERS Private Markets

OMERS Private Markets (OMERS Infrastructure and OMERS Private Equity) invests globally in infrastructure and private equity assets on behalf of OMERS, the defined benefit pension plan for Ontario’s municipal employees. Investments are aimed at steady returns to help deliver strong and sustainable pensions to OMERS members. OMERS Private Markets’ diversified portfolio of large-scale infrastructure assets exhibits stability and strong cash flows, in sectors including energy, transportation and government-regulated services. OMERS has employees in Toronto and other major cities across North America, the U.K., Europe, Asia and Australia. OMERS is one of Canada’s largest defined benefit pension funds with net assets of more than C$95 billion. Visit www.omersprivatemarkets.com for more information.

Description of ArcLight

ArcLight is one of the leading private equity firms focused on energy infrastructure investments. Founded in 2001, the firm helped pioneer an asset-based private equity approach to investing in the dynamic energy sector. ArcLight has invested over $19 billion in over 100 transactions since inception. Based in Boston, the firm’s investment team employs a hands-on value creation strategy that utilizes its in-house technical, operational, and commercial specialists as well as the firm’s 850-person asset management affiliate. More information about ArcLight, and a complete list of ArcLight’s portfolio companies, can be found at www.arclightcapital.com.

What Our People Say About Leeward

I like being on a team that is developing ideas and technology to diversify the way we use our planet’s energy and resources.

Carol K

Involvement in new projects, new challenges, and team work.

Bent K

The energy transition represents a rare and exciting moment to reimagine something fundamental to the way we live.

Robert K

Opportunities to make an impact and see the results of your work.

Ronald G

The focus on safety and making field work safer.

C.J. H

Coming from the military, camaraderie was important and there is plenty of that here.

Chase G

Leeward strives to meet the goals of renewable needs throughout the US and is continuously seeking opportunities to expand its portfolio.

Kory F

Leeward has a great group of people focused on getting the job done.

Greg F

I want to work for a company that will have a positive effect on the world.

Corey D

I choose to work in renewable energy because it is a growing industry and good for the environment.

Leena C

I am interested in making our planet a better and less polluted environment for ourselves and for future generations.

Lindy B

I want my work to have a positive impact on the world.

Joseph B

I love working at Leeward because everyday is a new opportunity to make a positive impact on the world.

Jason A

I enjoy working in Human Resources for a renewable energy company that is helping to sustain a better future for the next generation.

Chelsea L

To do my part in providing the next generation with environmentally friendly sustainable energy.

Sam M

I have the support from managers and leaders to develop and implement new ideas.

Brandi M

It is exciting to be a part of an emerging industry that we have already seen changing the world.

Kelly P

An environment that creates the perfect work/life balance while maintaining excellent business ethics and professional growth for employees.

Alexandria P

I joined Leeward because it was committed to growing and the opportunity set for my career was large and well defined.

Massimo P

An opportunity to learn and grow professionally across legal, financial, engineering, construction, O&M, and other areas of expertise.

Paul P

Leeward has a tight knit strong team culture, allowing for access to everything needed for personal and professional growth.

Kyle R

I wanted to be in a growing industry where the future holds a wide variety of opportunities and helps the environment.

Kazi R

I chose the renewable energy field because I’ve always wanted to be part of a shift from fossil fuels to clean energy.

Jonathan S

I decided the best way for me to make an impact on reducing the effects of climate change was for me to work in renewable energy.

Candace W

I chose the field of renewable energy 36 years ago due to my interest in cleaning up the environment, particularly the air quality.

Duane Y

I am passionate about the outdoors and the environment. And I love that I can tell my kids that Leeward is part of the solution.

Tedd M

I am proud to work at Leeward because I truly believe we make a positive impact on the climate and communities we live in.

Karla B

I’ve always been passionate about protecting the planet and everyone in it which is what makes working for Leeward so rewarding.

Evelyn Z

Knowing that I am helping build projects that will contribute to the world’s need for renewable energy motivates me every day.

Joe G

What motivates me are the great people Leeward has across all disciplines and aspects of projects leading growth in the renewable energy industry.

Kelly I

I am proud to work at Leeward and be part of an established team with a proven track record of operational excellence.

Mark D

I’m a believer in renewable energy and am proud to work for a company that strives to make a positive impact in our communities and world.

Mark H

The work I do directly impacts the company and its ability to provide renewable clean energy to the country.

Olay M

I am motivated by working with a great team and delivering renewable energy while reducing environmental and community impacts.