MetLife and Fiera Axium Infrastructure Invest in Eight Recurrent Energy Solar Power Projects in Ontario, Canada

  MetLife and Fiera Axium Infrastructure Invest in Eight Recurrent Energy
  Solar Power Projects in Ontario, Canada

Business Wire

SAN FRANCISCO & NEW YORK -- October 8, 2013

Fiera Axium Infrastructure and MetLife, Inc. today announced their joint
investment to acquire eight Recurrent Energy solar power projects in Ontario,
Canada. The solar power plants will provide more than 10,250 homes in Ontario
with clean, solar-generated electricity.

“We are continually seeking out opportunities that align with our strategy of
investing in long-term projects that generate attractive returns,” said Jeetu
Balchandani, director for MetLife Investments. "We are particularly pleased
when we find a project like this one that supports our strong commitment to
sustainable ventures.”

The eight solar power plants, totaling 86 MWp/62 MWac, are currently under
construction and expected to be completed by early 2014. Once operational, the
solar power projects will provide clean solar-generated electricity to the
Ontario Power Authority (OPA) for the next 20 years through feed-in-tariff
agreements.

“Fiera Axium and MetLife’s investment in solar-generated energy continues our
track record of developing projects that appeal to the world’s most
experienced energy investors,” said Arno Harris, chief executive officer of
Recurrent Energy. “With 20 solar photovoltaic programs under construction in
the region, Recurrent Energy is proud to help the Province of Ontario realize
its commitment to a clean energy future.”

The acquisition by Fiera Axium and MetLife is targeted to close in early 2014
once the solar power projects are fully operational and satisfaction of other
customary conditions. Recurrent Energy has a total of 20 projects operating or
under construction in Ontario; all are expected to be fully operating by early
2014.

“We are delighted to add this renewable energy investment to our portfolio and
be part of this very important project in Ontario,” said Pierre Anctil, CEO
of, Fiera Axium Infrastructure Inc. “This portfolio of clean solar power
plants aligns perfectly with our investment mandate, and we look forward to
continued work with Recurrent Energy to ensure the success of these projects.”

An institutional construction and term debt facility was arranged by Sun Life
Assurance Company of Canada and National Bank Financial to finance the solar
projects.

About Recurrent Energy

Recurrent Energy is redefining what it means to be a mainstream clean energy
company, with a fleet of utility-scale solar plants that provide competitive
clean electricity. The company has more than 2 GW of solar projects in
development in North America. Additional details are available at:
www.recurrentenergy.com

About MetLife, Inc.

MetLife, Inc. is a leading global provider of insurance, annuities and
employee benefit programs, serving 90 million customers. Through its
subsidiaries and affiliates, MetLife holds leading market positions in the
United States, Japan, Latin America, Asia, Europe and the Middle East. For
more information, visit www.metlife.com.

About Fiera Axium Infrastructure Inc.

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 two dedicated infrastructure
funds having in excess of $800 million in assets under management. The firm
combines the capabilities of a group of specialists with decades of combined
experience acquiring, developing, financing, operating and managing
infrastructure assets, with the fund management expertise of one of Canada’s
leading independent fund managers in Fiera Capital Corporation (TSX: FSZ).
Fiera Axium Infrastructure is jointly controlled by Fiera Capital and Axium
Infrastructure Management.

Contact:

Media Contacts:
Recurrent Energy
Cate Powers, 415-501-9533
Cate.Powers@recurrentenergy.com
or
MetLife, Inc.
John Calagna, 212-578-6252
or
Fiera Axium
Juan Caceres, 416-955-4861
juan.caceres@fieraaxium.com
 
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