OPTrust Remains Fully Funded for 12th Consecutive Year
TORONTO, March 9, 2021 /PRNewswire/ OPTrust today released its 2020 Funded Status Report,
Taking Care, which details the Plan s financial results and fully funded status. In 2020, OPTrust achieved an investment return of 8.9 per cent and lowered its discount rate. Membership in OPTrust Select, the defined benefit offering for Ontario s nonprofit, charitable and broader public sectors, continues to grow. This ensures more frontline workers and essential service providers will have access to a secure, predictable retirement. Every day, the team at OPTrust takes care of members and their financial future in retirement, just as our members have cared for many Ontarians in their roles as public servants and nonprofit workers, said Peter Lindley, President and CEO of OPTrust. These workers fulfill some of the most essential services in our communities and the OPTrust team is focused on their well-being in retirement.
Cascade Power Project Wins Canadian Power Deal of the Year Award
Project Finance International s Canadian Power Deal of the Year award for 2020.
The $1.5-billion Cascade Power Project is a 900-megawatt combined-cycle natural gas-fired power generation facility under construction near Edson, Alberta that will play a role in transitioning the province away from coal-fired power.
OPTrust is a proud partner of the project alongside Axium Infrastructure Inc., DIF Capital Partners, Kineticor Resource Corp., and the Indigenous Communities Syndicate LP (ICS), a consortium owned by the Alexis Nakota Sioux Nation, Enoch Cree Nation, Kehewin Cree Nation, O Chiese First Nation, Paul First Nation and Whitefish Lake First Nation. ICS will participate with an equity stake in the project and, in its first commitment since launching, the Alberta Indigenous Opportunities Corporation has provided a $93-million loan guarantee in the transaction.