Fengate reaches financial close on its first infrastructure investment in the United States with 120 MW San Juan Mesa wind project

TORONTO, June 3, 2016 /CNW/ - Fengate Capital Management ("Fengate") announced that it has reached financial close on the acquisition of a 25% equity interest in San Juan Mesa Wind Project LLC. San Juan Mesa Wind Project LLC is the owner of a 120 megawatt ("MW") fully-contracted operating wind project located in New Mexico ("San Juan Mesa"). The San Juan Mesa acquisition is Fengate's first investment in the United States.

"Fengate is very pleased to have reached financial close on this milestone transaction," said George Theodoropoulos, Managing Director of Infrastructure for North America, "San Juan Mesa extends Fengate's robust portfolio of renewable energy projects into the U.S. market."

San Juan Mesa is an operating wind project with 120 MW of capacity located near Elida, New Mexico. The energy from the project is sold under a Power Purchase Agreement with Southwestern Public Service Company, a subsidiary of Xcel Energy Inc. An affiliate of NRG Energy Inc. is the majority owner and operations manager for the project.

"San Juan Mesa is a fully-contracted asset with a strong operating record," stated Theodoropoulos, "This investment provides stable, long-term cash flows for our investors and allows Fengate to establish a relationship with NRG, one of the largest wind farm operators in the United States."

San Juan Mesa is the latest addition to Fengate's international portfolio of power projects and its first investment in a wind project, further diversifying the firm's infrastructure business. The firm's renewable energy portfolio includes wind, solar, hydro and biomass projects in Canada, the United States and the United Kingdom.

About Fengate
Fengate Capital Management Ltd. is a real asset investment firm that specializes in investment funds with a strategic focus on infrastructure, real estate and private equity. The firm has over $2 billion in assets under management with significant experience in Public-Private Partnerships, independent power projects, operating infrastructure assets and real estate developments. Fengate targets high quality investments across North America, Europe and Australia. Since 2007, the firm has been recognized as one of "Canada's Best Managed Companies".

© 2016 Fengate Corporation. All rights reserved. ® / TM registered and unregistered trademarks are the property of Fengate Corporation.

SOURCE Fengate Capital Management

For further information: Canada: Courtney Ihnat, courtney.ihnat@fengate.com, t +1 (905) 491-6575


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