US wind deal for Fiera Axium

The Toronto-based company has bought into a 97MW wind farm in Oregon.

Fiera Axium Infrastructure has bought a stake in a 97-megawatt (MW) wind power project located in Oregon, a state in the US Pacific Northwest region.

Fiera Axium Infrastructure US, a Fiera Axium fund, has bought 49 percent of the ‘Wheat Field’ wind farm in Arlington, a city in Oregon, from EDP Renováveis (EDPR).

EDPR, a publicly traded renewable energy company headquartered in Madrid, noted the ‘total implied asset value’ of the transaction amounted to $197 million.
EDP Renováveis cited asset rotation, a ‘core’ strategy, as motivating the deal, claiming that selling minority ownerships has netted it €582 million.

The four-year-old Wheat Field project, installed in the fourth quarter of 2009, has a 20-year power purchase agreement (PPA), according to EDPR.

Fiera Axium Infrastructure US, combined with Fiera Axium Infrastructure Canada II and feeder fund Fiera Axium Infrastructure North America, hold C$364 million (€264 million; $352 million) under management.

Toronto-headquartered Fiera Axium Infrastructure last year began expanding its geographic focus to the US in addition to Canada. In 2012, Fiera Axium opened a US office in New York headed by former BNP Paribas energy and infrastructure director Paulo Arencibia.

Fiera Axium Infrastructure is jointly held by C$54 billion asset manager Fiera Capital Corporation and Axium Infrastructure Management.