Fiera Infrastructure, an affiliate of Fiera Capital has acquired 100% of Macquarie Principal Finance’s interest in a portfolio of residential and commercial rooftop and ground-mounted solar photovoltaic (PV) systems across the UK.
The renewable energy assets will be added to Fiera Infrastructure’s fund, EagleCrest Infrastructure Canada LP.
The 13,254 residential rooftop solar PV systems in the platform are situated across all regions of England and Wales. The commercial sites include Merchant Park, a rooftop PV system and Fazakerley, a ground mounted PV system. The combined capacity is around 41MW with the Portfolio benefiting from 20-year Feed-in-Tariffs backed by UK government legislation.
“This transaction enhances and diversifies our existing portfolio by expanding the assets within our Fund geographically and by adding high-quality complementary renewable energy assets for the benefit of our investors,” said Fiera Infrastructure President, Alina Osorio. “Our goal is to assemble a portfolio of high quality mid-market core and core-plus infrastructure assets that will generate stable and predictable cash flows over the long term. As a leader in the alternative investment industry, Fiera Infrastructure is always looking to offer its clients the best investment opportunities and the infrastructure asset class is a segment which offers superior growth potential.”
Andrew Gray, an Associate Director at Macquarie Principal Finance said: “This transaction demonstrates Macquarie’s continued capacity to develop, build and operate renewable assets in the UK. We are pleased to have created this platform, adding institutional scale and helping to develop the UK’s rooftop solar PV market. We wish Fiera Infrastructure all the best with the business.”