Canadian investor Fiera Infrastructure has bought up a 41MWp solar portfolio from Macquarie, including over 13,000 residential installations, constructed and financed by the Australian group over the last four years.
The platform of solar PV assets also includes a small number of commercial rooftop and ground-mount systems in locations across the UK. It has now been folded into the Eagle Crest Infrastructure Canada LP fund, managed by Fiera Infrastructure for an undisclosed sum.
Company president Alina Osorio said: “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.
“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.”
Macquarie built the platform over the last four years and has managed a number of the assets through development, construction and into operation, citing support of UK government legislation which helped to generate policy certainty in renewable power production.
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.”