Natixis finances solar portfolio acquisition in Canada

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Natixis finances solar portfolio acquisition in Canada

Natixis has announced that acted as Left Side Bookrunner, Mandated Lead Arranger, Administrative Agent, and Interest Rate Swap Provider to finance the CAD 174 million acquisition and construction of a 34 MW portfolio of four photovoltaic solar projects, known as Northern Solar, in Ontario.

On 10 July 2013 , Fiera Axium Infrastructure Canada II L.P. announced that it has completed the acquisition of a 100% equity interest in four solar photovoltaic (PV) projects from Ontario Solar PV Fields Inc. a joint venture formed between Q-Cells SE and Photowatt, a subsidiary of ATS Automation Tooling Systems.

FieraAxium Infrastructure will use the proceeds to acquire, fund the construction of, and operate the four projects, which are anticipated to achieve commercial operation between March-May 2014. The solar facilities will sell all production under power purchase agreements granted through Ontario's Feedin-Tariff (FIT) program, under which the Ontario Power Authority will contract for 20 years of output.

FieraAxium Infrastructure Inc. is an independent portfolio management firm which has significant solar experience in Ontario.For Natixis, which opened an office in Canada in November 2012, this is its second project of 2013 under the Feed-in-Tariff program developed by the Ontario Power Authority to encourage and promote greater use of renewable energy in Ontario.

Source: Natixis
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