Ontario Teachers' Pension Plan Board (Ontario Teachers) has announced that it has entered into a definitive agreement with TPG, a global alternative asset firm, to acquire a 100% interest in Evoltz Participações S.A. (Evoltz), an electricity transmission platform in Brazil.

Founded by TPG in 2018, Evoltz consists of seven electricity transmission lines that total more than 3,500km across 10 states in Brazil. Evoltz is a portfolio of power transmission concessions, providing reliable power to businesses and consumers across Brazil.

The transaction is expected to close in the third quarter of 2021 and is subject to customary closing conditions and regulatory approvals.