North America’s largest district energy system sold for $4.1 billion
February 2, 2021 By Canadian Biomass Magazine
Brookfield Infrastructure is selling its North American district energy business, Enwave, which will be divested through two separate transactions amounting to $4.1 billion.
The Ontario Teachers’ Pension Plan Board and IFM Investors will acquire 100 per cent of Enwave’s Canadian business while Enwave’s U.S. business is being acquired by QIC and Ullico.
“The sale of Enwave caps off a hugely successful investment for Brookfield Infrastructure, one in which we grew the business significantly through organic growth initiatives and follow-on acquisitions,” Sam Pollock, CEO of Brookfield Infrastructure, told the Financial Post.
Originally acquired by Brookfield Infrastructure in 2012, Enwave has become the largest district energy system in North America.
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