| Asset Type | Energy Infrastructure (100% wind) |
| Status | Operational |
| Asset Description | 1,062 MW diversified portfolio of 7 wind assets. The portfolio is located in 3 states in the US. The portfolio has a weighted average operational age of 7 years and strong historical availability. 65% of capacity is currently contracted under long term offtake agreements. |
| Asset Revenues | The assets are primarily contracted under long-term PPAs with high-grade utility and corporate counterparties that bear a weighted average credit rating of A. Part of the portfolio currently operates on a merchant basis. |
| Contract Expiry | Portfolio has remaining average off-take tenor of 7 years with assets earning revenue on a merchant basis or through new long-term agreements thereafter. |
| Asset Type | Energy Infrastructure (Transmission Line and Station) |
| Status | Under Final Development (COD expected by end of 2027) |
| Asset Description | 10 km double-circuit 230kV transmission line and 230kV transformer station located within the city of Sault Ste. Marie. Among other connections, this asset will power Algoma Steel Inc. (large Canadian steelmaker)’s transition from using coal to clean electricity (via electric arc furnaces) and reduce its CO2 emissions by 70% (3 million tons annually). |
| Asset Revenues | The asset will be governed under the Ontario regulatory utility framework through which it will be entitled to recover all prudently incurred costs plus a regulated return on its debt and equity through a performance based ratemaking scheme. |
| Counterparty | Settlement counterparty: IESO (rated Aa3 by Moody’s) Regulator: Ontario Energy Board |
| Asset Type | Energy and Social Infrastructure |
| Status | Operational |
| Asset Description | 50-year concession to operate and maintain The Ohio State University’s campus district energy system, including the production and/or distribution of steam, chilled water, natural gas, and electricity across the 485-building Columbus campus and implementation of a comprehensive energy conservation program designed to increase system efficiency by 25% or greater. |
| Asset Revenues | In exchange for an upfront payment, the Concessionaire receives three revenue streams: (i) a fixed $45 million per year (escalating at 1.5% per annum); (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 | The Ohio State University (S&P: AA; Moody’s: Aa1) |
| Concession Expiry | 2067 |
| Asset Type | Social Infrastructure (Personal Care Home Portfolio) |
| Status | Operational |
| Asset Description | 90% interest in a portfolio comprised of seven personal care facilities representing 449 rooms. Kirby Group, the largest operator in Newfoundland & Labrador, is the operator and owns the balance of the ownership interests in the portfolio. |
| Asset Revenues | Personal care facilities are licensed, regulated and funded by the provincial government. The provincial government subsidizes the care, programs, supplies and accommodation costs of the residents, who are also subject to a co-payment as determined by a Regional Health Authority conducted financial assessment of incoming residents. |
| Counterparty | Regional Health Authorities (agencies of the provincial government) |
