Fengate Asset Management, an alternative investment manager focused on infrastructure, private equity and real estate strategies, says the commercial operation, tax equity funding and term conversion of the 72.6 MW Weaver wind project in Hancock County, Maine, has been completed.
“Fengate is very pleased the Weaver wind project is operational and we could not have reached this milestone without partners like Longroad, U.S. Bank and MUFG,” says Greg Calhoun, managing director of infrastructure investments at Fengate. “This project provides a new source of clean, reliable energy for Maine and is a significant renewable energy investment for our investors.”
Weaver was a successful co-development partnership between Fengate and Longroad Energy Partners LLC (LEP) starting in December 2018. Fengate acquired Weaver from LEP in August 2019 and financial close occurred shortly thereafter. LEP’s affiliate, Longroad Energy Services, will provide construction management, asset management, operations and maintenance, and remote monitoring services to the Weaver project.
Fengate is managing this investment on behalf of the Fengate Core Infrastructure Fund III and its affiliated entities, including an investment fund owned by the LiUNA Pension Fund of Central and Eastern Canada.
