| Asset Type | Energy Infrastructure |
| Status | Operational (COD in August 2011 for Copper Crossing and November 2010 for Dry Lake II) |
| Asset Description | 50% interest in a portfolio of two operating renewable projects, one 65.1 MW wind farm (Dry Lake II) and one 23 MWdc solar farm (Copper Crossing), both located in Arizona and fully contracted under long- term PPAs. |
| Asset Type | Social Infrastructure (Student Housing) |
| Status | Under Construction (Commercial Operations in 2023) |
| Asset Description | Mass Ave Housing Partners is a concession from the University of Massachusetts Amherst to construct and operate on-campus undergraduate and graduate student housing facility . The undergraduate facility will feature 253 apartments with a total of 623 beds and the graduate facility will feature 140 apartments with a total of 201 beds. Construction of the undergraduate and graduate facilities is expected to be completed by the ends of August 2023 and November 2023, respectively. The facility will be operated pursuant to a concession agreement with the University for a 65-year term. The Project Company has the authority to set rental rate and operating budgets, and will retain a third-party property manager responsible for maintenance of the property as well as unit leasing and rent collection. |
| Asset Revenues | Rental revenue is collected from students every month. Approximately 3% of rental revenues will be paid to the property manager as a management fee. |
| Counterparty | University of Massachusetts (S&P: AA- / Moody’s: Aa2 / Fitch AA) |
| Contract Expiry | Concession with the University expires after 65 years. |
| Asset Type | Energy and Social Infrastructure |
| Status | Operational |
| Asset Description | 50-year concession to operate, maintain and upgrade the Georgetown University utility system, which is all of the electric, steam and condensate, natural gas, chilled water and associated central assets serving the Main and Downtown campuses, and includes utility and energy services to the Jesuit Community, the Georgetown University Medical Center and MedStar Georgetown Hospital. The concessionaire will also implement energy conservation measures to achieve a 35% reduction in energy use intensity |
| Asset Revenues | In exchange for an upfront payment, the Concessionaire receives three revenues steams: (i) a starting fixed fee of $21.1 million that grows by ~$2.2 million per year until 2031, then growing at 1.5% per year; (ii) a return on investment for capital improvements made to the system over the term of the concession; and (iii) payment of operating costs on a pass-through basis |
| Counterparty | Georgetown University (S&P: A-; Moody’s: A3) |
| Concession Expiry | 2071 |
| Asset Type | Energy Infrastructure |
| Status | Operational (COD between November 2014 and January 2015) |
| Asset Description | Three solar PV facilities with 41 MWdc of aggregate generation capacity. Projects were developed by Canadian Solar Solutions Inc. under the Ontario government’s FIT program. |
| Asset Revenues | 100% of power produced is sold under 20-year Power Purchase Agreements (PPAs) |
| Counterparty | IESO |
| PPA Expiry | 2034 for 2 assets and 2035 for the other (20 years following COD) |
