A group comprising Axium Infrastructure, Alberta Teachers' Retirement Fund Board (ATRF) and Manulife Financial Corporation has acquired Samsung Renewable Energy's interest in an Ontario wind farm.
The consortium purchased a one-third stake in the 270MW K2 Wind Facility for an undisclosed amount. The project is located near Goderich, Ontario and began operating in May 2015. It is secured under a 20-year power purchase agreement with Independent Electricity System Operator (IESO).
Pattern Energy Group and Capital Power Corporation hold the remaining two-thirds interest in equal proportions. The former bought its stake in the project in June 2015.
Based in Montreal, Axium has a 1.6GW North American wind portfolio and manages dedicated infrastructure funds totalling $1.5 billion. Last month, the firm led a consortium that bought a 50 percent stake in a 150MW wind project in Kansas developed by EDF Renewable Energy.
The asset manager, along with its co-investor, also raised C$556.5 million ($426 million; €385 million) in July through a senior secured amortising bond to finance the Sea-to-Sky Highway improvement P3 project in British Columbia.