Fiera Axium Completes Acquisition of 45-MW Solar Power Portfolio
Fiera Axium Infrastructure Canada L.P. is pleased to announce that it has completed the acquisition of a 100 percent 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.
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