Fiera Axium Infrastructure completes acquisition of 47 MW Solar PV portfolio
TORONTO, July 10, 2012 /CNW/ - Fiera Axium Infrastructure Canada L.P. is pleased to announce that it has completed the acquisition of a 100% equity interest in four operational solar photovoltaic (PV) projects from EDF EN Canada Inc. The projects sell power to the Ontario Power Authority pursuant to 20-year Power Purchase Agreements under the terms of the Ontario government's Renewable Energy Standard Offer Program.
Located near Ottawa, Ontario, the portfolio comprises four operational solar parks (Elmsley East, Elmsley West, St. Isidore A and St. Isidore B) having aggregate generation capacity of 47.1 MW. The projects were developed by EDF EN Canada Inc., a subsidiary of the EDF Group, Europe's leading energy producer, and achieved commercial operations in 2010 and 2011.
enXco Service Canada Inc., a wholly-owned subsidiary of EDF EN, will continue to provide operations and maintenance services to the projects under long-term O&M agreements.
"This acquisition marks a significant milestone for our fund, as it represents our first investment in solar power facilities. Consistent with our goal of assembling a diversified portfolio of core infrastructure assets, we are delighted to provide our investors with access to solar generation facilities developed and operated by a world-class firm in EDF EN," said Pierre Anctil, President and Chief Executive Officer of Fiera Axium Infrastructure Inc., manager of Fiera Axium Infrastructure Canada LP.
"We look forward to working in partnership with enXco Service Canada Inc. to deliver clean and sustainable energy to the Province of Ontario" added Juan Caceres, Vice President and Senior Investment Director of Fiera Axium Infrastructure Inc.
About Fiera Axium Infrastructure Inc.
Fiera Axium Infrastructure Inc. is an independent portfolio management
firm dedicated to generating attractive, long-term investment returns
through investing in core infrastructure assets. The firm combines the
capabilities of a group of professionals with extensive infrastructure
development and management backgrounds, with the fund management
expertise of one of Canada's leading independent fund managers in Fiera
Capital Corporation (TSX: FSZ). Its management team comprises
infrastructure investment specialists with decades of combined
experience acquiring, developing, financing, operating and managing
infrastructure assets. Fiera Axium Infrastructure is jointly controlled
by Fiera Capital and Axium Infrastructure Management.
About Fiera Axium Infrastructure Canada L.P.
Managed by Fiera Axium Infrastructure Inc., Fiera Axium Infrastructure Canada L.P. ("Fund") is a closed-end
infrastructure fund which completed its final closing on February 18,
2011 with capital commitments totalling $460 million. The Fund is
focused on both operational and greenfield development opportunities
and seeks to invest in core transportation, energy and social
infrastructure assets across Canada. Focus is placed on assets that are
supported by robust market demand, under long-term contract with
creditworthy counterparties, within concession-based structures or
under a regulated framework. In addition to its investment in the 47 MW
solar PV portfolio, the Fund holds interests in: (i) the CHUM Research
Centre PPP project (initial phase of the Centre hospitalier de
l'Université de Montréal (CHUM) modernization project); (ii) the
Sea-to-Sky Highway Improvement PPP project servicing the
Vancouver-Whistler corridor; (iii) the Anthony Henday Drive Southeast
Leg Ring Road PPP project forming part of the ring road serving the
City of Edmonton; (iv) Intoll Toronto Roads Limited, an unlisted
company that holds a 30% interest in the 407 ETR toll highway located
in Toronto, Ontario; and (v) the 100MW Vents du Kempt Wind power
project to be constructed in the Gaspésie region of Quebec.
For further information:
Juan Caceres
Vice President and Senior Investment Director
Fiera Axium Infrastructure Inc.
One Adelaide Street East, Suite 600, Toronto, ON M5C 2V9
T: 416-955-4861