Ontario Teachers’ to buy 30% stake in Mahindra Susten

Leading Canadian fund Ontario Teachers’ Pension Plan Board (Ontario Teachers’) will acquire a 30% stake in Mahindra Susten, the renewable energy platform, for Rs 2,371 crore ( $300 million), said Ontario Teachers’ statement.

The proposed transaction also envisages the setting up of an Infrastructure Investment Trust (InvIT). The InvIT is initially proposed to comprise renewable power assets seeded by Mahindra Susten with operational capacity of around 1.54 GW.