Friday, July 19, 2013

Ontario ground projects sold

Fiera Axium Infrastructure acquires 42 MW of PV power plants in Ontario 19.07.2013: Fiera Axium Infrastructure Canada II LP, managed by Canada-based Fiera Axium Infrastructure, a joint venture of Fiera Capital Corp. and Axium Infrastructure Management, has acquired four PV projects totaling 42 MW from Ontario Solar PV Fields Inc., a joint venture of Q-Cells SE and Photowatt, a subsidiary of ATS Automation Tooling Systems. The value of the transaction was not disclosed. Hanwha Q Cells Canada, a subsidiary of Hanwha Q Cells USA, will build the four projects for Fiera Axium. Construction of the projects is scheduled to be completed in the second quarter of 2014. Once constructed, the four projects will sell their output to the Ontario Power Authority under 20-year power purchase agreements. The four projects are located in Ontario in the towns of Ramore, Hearst, Kapuskasing and Wainwright. In conjunction with the acquisition, financial close was achieved on a $175 million senior debt financing facility that will partially fund construction of the projects. The senior debt financing was provided by a syndicate of three international project finance banks comprising Natixis, Nord/LB and Bank of Tokyo-Mitsubishi

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Monty Bannerman
ArcStar Energy
646.402.5076
www.arcstarenergy.com

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