Fiera agrees maiden UK renewables deal with 41MW solar buy

The deal comes via the same fund that holds the group’s 5% stake in Thames Water.

Canadian firm Fiera Infrastructure has entered the UK’s renewable energy space with the acquisition of a 41MW solar portfolio from Macquarie.

The assets comprise 13,254 feed-in tariff-backed rooftop installations and a ground-mounted installation. They have been purchased from Macquarie’s Principal Finance division, which has built and owned the projects over the last four years.

Terms of the deal, made via Fiera’s EagleCrest Infrastructure Canada fund, formerly Fiera Infra LP, have not been disclosed.

While the assets are Fiera’s first renewable projects in the UK, the investment is the fund’s second in the country – the vehicle holds part of Fiera’s 5 percent ownership in Thames Water following a C$200 million ($155.8 million; €131.5 million) injection in March.

The fund also holds ownership in two prisons and a courthouse in Ontario, as well as a pedestrian tunnel at Billy Bishop Toronto City Airport. It also has almost 900MW of wind and solar projects in the US and Canada following a deal with DE Shaw Renewable Investments in April.

The group was created in March 2016 after a merger between parent Fiera Capital and Toronto-based Aquila Infrastructure Management. It has more than C$900 million in assets under management.