Xebec and Fonds de solidarité FTQ launch CAD100mn renewable gas fund in Quebec
Xebec Adsorption Inc., a global provider of clean energy solutions, and Fonds de solidarité FTQ have announced the creation of the GNR Québec Capital L.P. investment fund.
With an initial capitalization of CAD20 million (US$14.72 million), this new investment vehicle aims to increase renewable natural gas (RNG) production in Québec. Partners, particularly from the agricultural and municipal sectors, will have access to the capital and expertise needed to develop and operate efficient facilities to treat organic waste. The creation of a fund of this type for renewable natural gas projects is a first in Québec.
Xebec and the Fonds will each initially invest CAD10 million (US$7.32 million) into the partnership. Over time, Xebec and the Fonds expect that the partnership could receive an aggregate CAD100 million (US$73.173 million) in equity capital from Xebec, the Fonds, and other investors.
Xebec and the Fonds’ initiative could, with a 75:25 debt to equity ratio, fund 12 to 15 renewable natural gas projects in Québec with an aggregate investment of CAD400 million (US$292.69 million) over the next decade. The general partner, GNR Québec Capital Management Inc., overseen by a Board of Directors nominated by Xebec and the Fonds will be managing the partnership.
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