Prior notification of a concentration (Case M.8092 — PSP/OTPP/Cubico/Renewable Energy Power Generation Companies) — Candidate case for simplified procedure (Text with EEA relevance)
Date: 2016-08-05
Institutions: European Commission
Subjects: economic concentration, electrical energy, energy production, merger control, power plant








C_2016283EN.01000401.xml










5.8.2016   


EN


Official Journal of the European Union


C 283/4





Prior notification of a concentration
(Case M.8092 — PSP/OTPP/Cubico/Renewable Energy Power Generation Companies)
Candidate case for simplified procedure
(Text with EEA relevance)
(2016/C 283/04)






1.


On 28 July 2016 the Commission received notification of a proposed concentration pursuant to Article 4 of Council Regulation (EC) No 139/2004 (1) by which Public Sector Pension Investment Board (‘PSP’, Canada) and Ontario Teachers’ Pension Plan Board (‘OTPP’, Canada) will acquire joint control over Cubico Sustainable Investment Holdings Limited (‘Cubico’, United Kingdom) within the meaning of Article 3(1)(b) of the Merger Regulation by way of purchase of shares. Cubico will acquire at the same time sole control of five companies: (i) C&C Lucania Srl. (‘Tricarico’, Italy); (ii) Penmanshiel Energy Limited (‘Penmanshiel’, United Kingdom); (iii) Chiplow Wind Farm Limited (United Kingdom); (iv) Kelmarsh Wind Farm Limited (United Kingdom); and (v) Winwick Wind Farm Limited (United Kingdom), within the meaning of Article 3(1)(b) of the Merger Regulation by way of purchase of shares.










2.


The business activities of the undertakings concerned are:






—


PSP is a pension investment manager. Its portfolio includes shares, fixed income applications, securities, investment in real estate and private equity, as well as in the infrastructure and renewable resources sectors.










—


OTPP is an investment fund that distributes its portfolio among 6 main asset classes: (i) public equities; (ii) private capital; (iii) fixed income and alternative investments; (iv) infrastructure; (v) tactical asset allocation and natural resources; and (vi) real estate.










—


Cubico manages and invests in renewable energy and water infrastructure assets globally. Cubico owns wind, solar and water infrastructure assets across eight countries.










—


Chiplow Wind Farm Limited, Kelmarsh Wind Farm Limited and Winwick Wind Farm Limited are wind farms incorporated in the United Kingdom.










—


Penmanshiel is a wind farm incorporated in the United Kingdom.










—


Tricarico is a wind farm incorporated in Italy.














3.


On preliminary examination, the Commission finds that the notified transaction could fall within the scope of the Merger Regulation. However, the final decision on this point is reserved. Pursuant to the Commission Notice on a simplified procedure for treatment of certain concentrations under Council Regulation (EC) No 139/2004 (2) it should be noted that this case is a candidate for treatment under the procedure set out in this Notice.










4.


The Commission invites interested third parties to submit their possible observations on the proposed operation to the Commission.
Observations must reach the Commission not later than 10 days following the date of this publication. Observations can be sent to the Commission by fax (+32 22964301), by email to COMP-MERGER-REGISTRY@ec.europa.eu or by post, under reference M.8092 — PSP/OTPP/Cubico/Renewable Energy Power Generation Companies, to the following address:





European Commission




Directorate-General for Competition




Merger Registry




1049 Bruxelles/Brussel




BELGIQUE/BELGIË










(1)  OJ L 24, 29.1.2004, p. 1 (the ‘Merger Regulation’).

(2)  OJ C 366, 14.12.2013, p. 5.