Hastings Funds Management Pty and Ontario Teachers Pension Plan have won the right to lease the plant. The NSW Government entered into a 50-year lease with Sydney Desalination Plant Pty Ltd (SDP), a company jointly owned by the Ontario Teachers Pension Plan Board (50%) and two funds managed by Hastings Funds Management Limited: Utilities Trust of Australia and The Infrastructure Fund (together 50%). The terms of lease lock Sydney Water into a 50-year water supply agreement with SDP. The plant will be operated by Veolia Water Australia Pty Ltd