OMERS Infrastructure to acquire a 19.4% stake in Azure Power Global for $219m.

OMERS Infrastructure, which manages investments globally in infrastructure on behalf of OMERS, the defined benefit pension plan for municipal employees in the Province of Ontario, Canada, agreed to acquire a 19.4% stake in Azure Power Global, an independent renewable energy developer in India, for $219m. "This transaction supports OMERS' goal to prudently diversify its investments in quality assets in India. Azure Power has been leading energy transformation in India and we are pleased to be associated with the organisation. We look forward to working with the management to capitalise on growth opportunities," Prateek Maheshwari, OMERS Infrastructure Managing Director.