Fiera Axium Infrastructure to acquire equity interest in 108 MWp solar PV portfolio from Recurrent Energy

  Fiera Axium Infrastructure to acquire equity interest in 108 MWp solar PV
                       portfolio from Recurrent Energy

PR Newswire

TORONTO, Oct. 8, 2013

TORONTO, Oct. 8, 2013 /PRNewswire/ - Fiera Axium Infrastructure Canada II L.P.
is pleased to announce that it has entered into an agreement to acquire an
equity interest in a portfolio of ground-mounted solar photovoltaic (PV)
projects from Recurrent Energy, a leading North American solar project
developer.

The portfolio comprises ten solar projects  which are located near Barrie  and 
London, Ontario, that will have aggregate generation capacity of 108 MWp.  The 
solar projects  are being  developed  by Recurrent  Energy under  the  Ontario 
government's Feed-in-Tariff (FIT) program, and will sell power to the  Ontario 
Power Authority pursuant  to 20-year Power  Purchase Agreements. During  their 
first year of operation,  the projects are  collectively expected to  generate 
enough energy to power more than 12,800 homes in Ontario.

Fiera Axium Infrastructure Canada II L.P.  will acquire a 50% equity  interest 
in eight of the  projects (86 MWp), with  Metropolitan Life Insurance  Company 
(MetLife)  acquiring   the  remaining   50%  equity   interest.  Fiera   Axium 
Infrastructure Canada  II L.P.  will acquire  a 100%  equity interest  in  the 
remaining two projects (22 MWp).

The acquisition will be completed upon the projects achieving their respective
commercial operation dates.

All ten projects are currently under construction and are targeting commercial
operation by  early  2014. Construction  of  the projects  will  be  partially 
financed through an  institutional senior  debt facility  underwritten by  Sun 
Life Assurance Company of Canada and National Bank Financial.

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.

About Fiera Axium Infrastructure Canada II L.P.
Managed by Fiera Axium Infrastructure Inc.,  Fiera Axium Infrastructure Canada
II L.P.  ("Fund")  is an  open-ended  infrastructure fund  focused  on  direct 
investment in both operational and greenfield development opportunities.  The 
Fund seeks to invest in core energy, transportation and social  infrastructure 
assets across Canada. Focus is placed on assets that are supported by  robust 
market demand,  under  long-term contract  with  creditworthy  counterparties, 
within  concession-based  structures  or  under  a  regulated  framework.  In 
addition to  its  equity commitment  to  the  108 MW  Recurrent  Energy  solar 
photovoltaic portfolio, the  Fund holds equity  interests in: (i)  the 235  MW 
Toba Montrose run-of-river hydroelectric facilities  located on the East  Toba 
River and Montrose Creek in British Columbia; (ii) the 144 MW Dokie wind power
project located in Peace River, British Columbia; (iii) a 679 MW portfolio  of 
renewable energy  assets  located  across British  Columbia,  Ontario,  Prince 
Edward Island and  New Brunswick;  (iv) a  42 MW  portfolio of  ground-mounted 
solar photovoltaic projects currently under construction in Northern  Ontario; 
and (v) a 23,400m2 detention centre public-private partnership project located
in Sorel-Tracy, Quebec.

SOURCE Fiera Axium Infrastructure

Contact:

Juan Caceres

Vice President and Senior Investment Director
Fiera Axium Infrastructure Inc.
One Adelaide Street East, Suite 600, Toronto, ON M5C 2V9
T: 416-955-4861
 
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