Natixis Acts as Left Side Bookrunner and Mandated Lead Arranger for CAD 174 Million Ontario Solar Project Portfolio
Natixis acted as Left Side Bookrunner, Mandated Lead Arranger, Administrative Agent, and Interest Rate Swap Provider to finance the acquisition and construction of a 34 MWac portfolio of four photovoltaic solar projects, known as Northern Solar, in Ontario.
The borrower, a wholly owned subsidiary of FieraAxium Infrastructure Inc., will use the proceeds to acquire, fund the construction of, and operate the four projects, which are anticipated to achieve commercial operation between March-May 2014. The solar facilities will sell all production under power purchase agreements granted through Ontario’s Feed-in-Tariff (FIT) program, under which the Ontario Power Authority will contract for 20 years of output.
FieraAxium Infrastructure Inc. is an independent portfolio management firm which has significant solar experience in Ontario.
For Natixis, which opened an office in Canada in November 2012, this is its second project of 2013 under the Feed-in-Tariff program developed by the Ontario Power Authority to encourage and promote greater use of renewable energy in Ontario.