Fiera Infra LP, an infrastructure fund under Fiera Infrastructure Inc., has acquired Suncor Energy’s 50% interest in the Cedar Point II Wind Facility in Ontario.
The project, located in Lambton County, consists of 46 wind turbines on privately owned land. Co-owned with affiliates of NextEra Energy Canada LP, the wind farm has been operating since October 2015.
The project has a 20-year power purchase agreement with Ontario’s Independent Electricity System Operator (IESO). One-hundred percent of the output is sold to the ISEO in exchange for a fixed electricity rate.
“This transaction is an exciting opportunity that enhances the quality and return profile of our portfolio for the benefit of our investors and represents an opportunity to establish an important relationship with NextEra Energy Canada,” says Alina Osorio, president of Fiera Infrastructure.
National Bank Financial Markets acted as financial advisor and debt advisor and arranger to Fiera Infrastructure.
