Fengate Real Asset Investments has announced that the firm has reached financial close on its acquisition of a 75% limited partner interest and 50% general partner interest in a 40 MW operating wind farm in Southern Ontario.
The acquisition was made on behalf of Fengate’s investors.
The facility became operational in December 2015, comprises 16 Siemens SWT-3.2-113 wind turbines and has a power purchase agreement with the Independent Electricity System Operator with a remaining life of approximately 18.5 years.
This acquisition is latest addition to the firm’s portfolio of power projects and represents the firm’s second wind investment. Fengate’s renewable energy portfolio includes a strategic and growing roster of wind, solar, hydro and biomass projects in Canada, the United States and the United Kingdom.
George Theodoropoulos, Managing Partner, Infrastructure, at Fengate, said:
“Fengate is pleased to have reached financial close on this core investment, which will deliver long-term stable cash flows to our investors. This facility is a valuable renewable energy asset that further enhances our infrastructure portfolio and fully aligns with our targeted investment strategy and goals.”