(Bloomberg) -- Ontario’s pension fund for local-government workers is exploring selling a stake in Leeward Renewable Energy, according to people with knowledge of the matter.

The Ontario Municipal Employees Retirement System is working with advisers to solicit interest in the Dallas-based company, which may be valued at about $3.5 billion including debt in a transaction, said the people, who requested anonymity discussing confidential information.

Representatives for the Canadian pension fund declined to comment. Leeward didn’t immediately respond to a request for comment. 

The company, led by CEO Jason Allen, operates and owns a portfolio of 31 solar, wind and energy storage facilities across the U.S., its website shows, and is developing dozens of new ones. Leeward says it expects to commercialize more than 1,000 megawatts of renewable energy capacity over the next couple of years. 

The infrastructure arm of Omers acquired the business from ArcLight Capital Partners in 2018, and Leeward expanded in 2021 by buying a solar project platform from First Solar Inc.