Axium Infrastructure acquires 84-MW portfolio of solar projects from Renewable Energy Trust Capital
Written By: Stratton Report
November 21, 2016
On November 21, Axium Infrastructure announced the acquisition of an 84-MW AC (110 MW DC) solar portfolio from Renewable Energy Trust Capital. The portfolio consists of eight solar PV facilities, two in California, three in Georgia and three in Ontario.
The facilities reached commercial operations between 2012 and 2015, and each operates under a long-term, fixed-price contract with an investment grade utility.
Thierry Vandal, President of Axium Infrastructure US Inc. remarked: “With this acquisition, Axium has now invested in approximately 300 MW
“With this acquisition, Axium has now invested in approximately 300 MWAC of solar generation across North America and close to US$800 million of capital out of its second, open-ended infrastructure fund. We believe this transaction is an important catalyst to the continued growth of our Funds for the benefit of our investors.”
Paulo Arencibia, Vice President and Investment Director of Axium Infrastructure US Inc. noted: “As Axium’s first solar investment in the US, this acquisition further diversifies the fund’s renewable portfolio and represents an important milestone for our expansion in the US.”
Juan Caceres, Vice President and Senior Investment Director of Axium Infrastructure Inc. commented: “With this acquisition, we are adding three new assets to an already significant portfolio of solar projects in Canada, strengthening our position as a leader in Canadian renewable energy production.”
Norton Rose Fulbright LLP acted as legal advisor to Axium.