Ontario Teachers' and Morrison increase ownership in Sydney Desalination Plant
Topics: ONTARIO TEACHERS MORRISON SYDNEY DESALINATION PLANT
esult of the transaction, Ontario Teachers' ownership of SDP will increase to 60 per cent, while UTA's interest managed by Morrison will increase to 40 per cent.
Ontario Teachers', UTA and TIF acquired SDP in 2012 through a 50-year lease from the Government of New South Wales.
Powered by renewable energy, SDP can supply up to 250 million litres of drinking water per day, which is approximately 15 per cent of Sydney's water needs. ■