TORONTO, Oct. 8, 2013 /CNW/ - Fiera Axium Infrastructure Canada II L.P.
is pleased to announce that it has entered into an agreement to acquire
an equity interest in a portfolio of ground-mounted solar photovoltaic
(PV) projects from Recurrent Energy, a leading North American solar
The portfolio comprises ten solar projects which are located near Barrie
and London, Ontario, that will have aggregate generation capacity of
108 MWp. The solar projects are being developed by Recurrent Energy
under the Ontario government's Feed-in-Tariff (FIT) program, and will
sell power to the Ontario Power Authority pursuant to 20-year Power
Purchase Agreements. During their first year of operation, the projects
are collectively expected to generate enough energy to power more than
12,800 homes in Ontario.
Fiera Axium Infrastructure Canada II L.P. will acquire a 50% equity
interest in eight of the projects (86 MWp), with Metropolitan Life
Insurance Company (MetLife) acquiring the remaining 50% equity
interest. Fiera Axium Infrastructure Canada II L.P. will acquire a 100%
equity interest in the remaining two projects (22 MWp).
The acquisition will be completed upon the projects achieving their
respective commercial operation dates.
All ten projects are currently under construction and are targeting
commercial operation by early 2014. Construction of the projects will
be partially financed through an institutional senior debt facility
underwritten by Sun Life Assurance Company of Canada and National Bank
About Fiera Axium Infrastructure Inc.
Fiera Axium Infrastructure Inc. is an independent portfolio management
firm dedicated to generating, long-term investment returns through
investing in core infrastructure assets. Fiera Axium manages two
dedicated infrastructure funds having in excess of $800 million in
assets under management. The firm combines the capabilities of a group
of specialists with decades of combined experience acquiring,
developing, financing, operating and managing infrastructure assets,
with the fund management expertise of one of Canada's leading
independent fund managers in Fiera Capital Corporation (TSX: FSZ).
Fiera Axium Infrastructure is jointly controlled by Fiera Capital and
Axium Infrastructure Management.
About Fiera Axium Infrastructure Canada II L.P.
Managed by Fiera Axium Infrastructure Inc., Fiera Axium Infrastructure Canada II L.P. ("Fund") is an open-ended
infrastructure fund focused on direct investment in both operational
and greenfield development opportunities. The Fund seeks to invest in
core energy, transportation 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 equity commitment to the 108 MW Recurrent Energy solar
photovoltaic portfolio, the Fund holds equity interests in: (i) the 235
MW Toba Montrose run-of-river hydroelectric facilities located on the
East Toba River and Montrose Creek in British Columbia; (ii) the 144 MW
Dokie wind power project located in Peace River, British Columbia;
(iii) a 679 MW portfolio of renewable energy assets located across
British Columbia, Ontario, Prince Edward Island and New Brunswick; (iv)
a 42 MW portfolio of ground-mounted solar photovoltaic projects
currently under construction in Northern Ontario; and (v) a 23,400m2
detention centre public-private partnership project located in
SOURCE: Fiera Axium Infrastructure
For further information:
Vice President and Senior Investment Director
Fiera Axium Infrastructure Inc.
One Adelaide Street East, Suite 600, Toronto, ON M5C 2V9