Fiera Infra LP buys into portfolio of DESRI renewable projects

Written By: Stratton Report
April 13, 2017

On April 13, Marathon Capital announced that Fiera Infra LP, has acquired an equity interest in a U.S. portfolio of eight solar and wind power generation projects owned by affiliates of D. E. Shaw Renewable Investments, L.L.C. and other investors.

Per Marathon, an additional three projects are anticipated to be added to the portfolio in 2017. The portfolio of eleven projects has gross generation capacity of 921-MWs AC and includes assets located across eight states.

The financial advisor and investment banker noted that Fiera Infra LP is an infrastructure fund under the management of Fiera Infrastructure Inc. and an affiliate of Fiera Capital Corporation. Marathon Capital stressed that it served as Fiera Infrastructure’s exclusive buy-side financial advisor, providing valuation, due diligence, negotiation, and transaction execution support throughout the life of the acquisition process.

Ted Brandt, CEO of Marathon Capital remarked:

It has been a privilege to work with the Fiera Infrastructure team on this transaction.  The DESRI assets comprise a diversified portfolio of best-in-class utility scale renewable energy projects.  Fiera Infrastructure’s acquisition of a significant stake in the portfolio is a major milestone in their continued expansion into the U.S. market.

According to Marathon, DESRI will continue to own a controlling interest in each project. 

Alina Osorio, Fiera Infrastructure’s President observed: “Marathon Capital’s extensive experience in the utility-scale wind and solar sectors and its tax equity expertise were highly valued-added in completing this important transaction for Fiera Infrastructure.”