| Asset type | Social infrastructure |
| Status | Operational |
| Asset Description | 92.5% interest in two portfolios (Aster and Bloom) comprising of 26 facilities representing 4,114 beds located in Alberta and B.C. AgeCare is the operator and owns the balance of the equity ownership interests in the two portfolios. |
| Asset Revenues | Long-term 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. The funding rates paid by the government and the residents to the operators are set on an annual basis. |
| Counterparty | Alberta Health Services (agency of the provincial government), Various B.C. Regional Health Authorities (agencies of the provincial government) |
| 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 (Battery Storage) |
| Status | Operational |
| Asset Description | 350MW (1400MWhs) battery storage project located in southern California. Construction is anticipated to start in August 2021 with COD in August 2022. Once operational, the project will provide capacity and crucial supply-shifting benefits to the California grid. The project has 2 ~15-year offtake contracts for the total project capacity. |
| Asset Revenues | 200MW are contracted under a tolling agreement for 14 years and 10 months, during which there is no merchant exposure. 150MW are contracted under a capacity contract for 15 years, during which it will earn energy arbitrage revenues on a merchant basis. |
| Counterparties | Recurrent Energy, Southern California Edison (SCE), Pacific Gas & Electric (PG&E) |
| Contract Expiry | Project offtake agreements terminate in ~15 years, with the project earning revenue on a merchant basis thereafter. |
