BluEarth Gets C$81 Million for Renewable Energy Projects

Nov. 3 (Bloomberg) — BluEarth Renewables Inc., a closely
held renewable-energy developer, raised a C$81 million ($71
million) round of equity financing from existing investors to
buy and develop hydro, solar and wind power in North America.

Major shareholders Ontario Teachers’ Pension Plan Board and
ARC Financial Corp. increased their investment in the company,
Calgary-based BluEarth said today in a statement.

“With this renewed support from our investors, we are well
positioned to build on our current momentum,” Kent Brown,
BluEarth president and chief executive officer, said in the
statement.

BluEarth, founded in 2010, aims to have C$1 billion of
operational energy assets by 2017, Brown said. By the end of
next year, it expects to have about C$650 million.

To contact the reporter on this story:
Ehren Goossens in New York at
egoossens1@bloomberg.net

To contact the editors responsible for this story:
Reed Landberg at
landberg@bloomberg.net
Carlos Caminada, Steven Frank

About BloombergNEF

BloombergNEF (BNEF), Bloomberg’s primary research service, covers clean energy, advanced transport, digital industry, innovative materials and commodities. We help corporate strategy, finance and policy professionals navigate change and generate opportunities.

Available online, on mobile and on the Terminal, BNEF is powered by Bloomberg’s global network of 19,000 employees in 176 locations, reporting 5,000 news stories a day.
 
Sign up for our free weekly newsletter →

Want to learn how we help our clients put it all together? Contact us