Investment Consortium Buys Into EDP Renewables Portfolio


Investment Consortium Buys Into EDP Renewables Portfolio A consortium led by Fiera Axium Infrastructure Inc. and composed of Fiera Axium Infrastructure U.S. LP, Swiss Life Funds Global Infrastructure Opportunities SCA, SICAV-SIF and John Hancock Life Insurance Co. have acquired a minority ownership interest in more than 1 GW portfolio of wind farms owned and operated by EDP Renewables (EDPR).

A purchase price was not disclosed.Â

According to Fiera, the portfolio is diversified across power markets and turbine technologies and consists of wind assets located in seven states. Each is fully contracted under long-term power purchase agreements with a weighted average life of over 16 years.

EDPR will retain a majority of the cash equity interests in the portfolio and will continue to act as the manager of all of the assets, the firm notes.

The transaction follows Fiera Axium's acquisition of a 49% ownership interest of Wheat Field, a 97 MW operating project in Oregon, from EDPR in November 2013.

In connection with the acquisition, Santander Bank NA and Prudential Capital Group have provided credit facilities to support the acquisition financing.

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