Toronto Firm Closes U.S. Deal On NRG Wind Farm

Posted by Lauren Tyler on June 03, 2016 No Comments
Categories : Projects & Contracts

Toronto-based Fengate Capital Management has reached financial close on the acquisition of a 25% equity interest in San Juan Mesa Wind Project LLC, the owner of a 120 MW project in New Mexico.

As announced in April, the San Juan Mesa acquisition is Fengate’s first investment in the U.S., as well as its first investment in a wind project. The firm’s renewable energy portfolio also includes solar, hydro and biomass projects in Canada and the U.K.

The fully contracted, operating wind project, located near Elida, sells its energy to Southwestern Public Service Co. – an Xcel Energy subsidiary – through a power purchase agreement. An affiliate of NRG Energy Inc. is the majority owner and operations manager of the project.

George Theodoropoulos, Fengate’s managing director of infrastructure for North America, notes, “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.”

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