AMP Capital’s increases exposure to renewable energy
AMP Capital’s infrastructure debt team has expanded its mezzanine debt investment with Alterra Power Corp., a global renewable energy company.
Under the deal, an additional tranche of US$21.1 million was added to the existing facility the company held with AMP Capital.
Alterra, which is headquartered in Canada, manages eight power plants totalling 825 MW of hydro, wind, geothermal and solar generation capacity in Canada, the US and Iceland.
The proceeds would be used to help fund the firm’s equity contribution to the Flat Top Wind project, which is a 200 MW wind project in central Texas.
AMP Capital US infrastructure debt director, Spencer Ivey, said: “We are pleased to have strengthened our relationship with Alterra with this investment.
“Our investors will benefit from increased exposure to a core infrastructure asset that has high barriers to entry, long-term contracted revenue streams, geographic and technology diversity, and an experienced management team with a proven track record.”
AMP Capital’s infrastructure debt team, that included 13 investment professionals, has invested more than US$3 billion in 58 infrastructure debt assets since 2001.
AUTHOR
Oksana Patron
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