Fiera Axium Infrastructure acquires stake in hydroelectric project

Subscribe to our newsletter and get the latest news and business opportunities in your inbox
Fiera Axium Infrastructure acquires stake in hydroelectric project

Alterra Power Corp. and Fiera Axium Infrastructure Inc. have completed a partnership agreement for the Jimmie Creek hydroelectric project. Under the agreement Alterra will own 51% of the project and Fiera Axium Infrastructure Canada II LP will own 49%.

The Jimmie Creek project will provide 62 MW of clean power capacity to southwest British Columbia and will sell 100% of its power to BC Hydro for 40 years beginning in August 2016. Construction activities have begun at the site, and the partners expect to complete financial closing for the project later this quarter.

Alterra had assumed 100% ownership of the project from General Electric, after signing development agreements with the Klahoose First Nation for its construction in May 2012.

Alterra's VP of Project Finance, Jon Schintler said:

"We're excited to partner with Fiera Axium Infrastructure on this important project, and we now look forward to completing financial arrangements and finishing construction together."

Dominic Chalifoux, Vice President and Senior Asset Operations Director of Fiera Axium Infrastructure Inc., said:

"We are delighted to add another hydro power project to our diversified Fund portfolio."

Alterra Power Corp. is a global renewable energy company, operating six power plants totaling 568 MW of generation capacity, including British Columbia's largest run-of-river hydro facility and largest wind farm, two geothermal facilities in Iceland, and a geothermal plant in Nevada. Alterra owns a 262 MW share of this capacity, generating approximately 1,300 GWh of clean power annually.

Fiera Axium Infrastructure Inc. is an independent portfolio management firm dedicated to generating long-term investment returns through investing in core infrastructure assets. Fiera Axium manages dedicated infrastructure funds having in excess of $970 million in assets under management.

Managed by Fiera Axium Infrastructure Inc., Fiera Axium Infrastructure Canada II L.P. is an open-ended infrastructure fund focused on direct investment in both operational and greenfield development opportunities.

List of country news

Country news

  • May 05, 2014

    SNC Lavalin sells stake in Altalink to Berkshire Hathaway

    SNC-Lavalin on Friday announced it has entered into a binding agreement to sell 100 % of its interest in AltaLink, Alberta’s largest regulated electricity transmission company, to Berkshire Hathaway Energy. Read more
  • May 05, 2014

    Finavera completes sale of wind assets to Pattern Energy

    Finavera Wind Energy says it has finalized an agreement to sell the 184MW Meikle project in British Columbia’s Peace Region for C$28 million ($25.4 million) to a unit of US developer Pattern Energy Group. Read more
  • May 05, 2014

    Jackie Forrest joins ARC Financial Corporation

    ARC Financial Corp. last week announced that Jackie Forrest has joined the firm’s energy research team as Vice President, effective July 2, 2014. Read more
  • May 27, 2014

    SunEdison Closes CA$115m financing for 33 MW Solar Projects

    SunEdison, a global leader in semiconductor and solar technology, has closed on financing for two solar power plants to be built in Ontario, Canada. Read more
  • June 10, 2014

    Brookfield Renewable announces $325 Million Equity Offering

    Brookfield Renewable Energy Partners L.P. has agreed to issue 10,250,000 limited partnership units on a bought deal basis, to a syndicate of underwriters at a price of $31.70 per L.P. unit, for gross proceeds of approximately US$325 million. Read more

Share this news

Join us

In order to get full access to News section, you must have a full subscription. You can check all the benefits of becoming a member and purchase a subscription on our membership page.