The Ontario Teachers' Pension Plan, one of Canada's largest pension schemes, is one of four bidders to go into the second round of the $4bn (€3.1bn) Citigroup-run auction for Intergen, Royal Dutch Shell's power business.

Ontario Teachers, which manages C$10.8bn (€6.9bn) of assets, has formed a consortium with AIG, the US insurer, according to Reuters, citing a unnamed sources familiar with the situation.