1. FOR RELEASE 9:00 A.M. EST, DECEMBER 2, 2015
MEDIA RELEASE
Fengate Capital Management acquires UK solar parks
Toronto – December 2, 2015:
Fengate Capital Management has finalized the purchase of two solar parks for C$110 million, its first investment in the
United Kingdom. The two solar parks were co-developed by Kinetica Solar and WElink Energy and are the 39 MW
Raventhorpe site in North Lincolnshire, England and the 7 MW Roanhead site in Cumbria, England. Raventhorpe is the
UK’s sixth largest solar park and the largest solar park in the Fengate portfolio. Fengate was advised on the transaction by
TLT and Aurium Capital Markets Group. Macquarie provided the senior debt financing.
“As our first investment in the UK market, this is an opportunity to strengthen our relationships with market participants,
such as Macquarie, Aurium Capital Markets and Kinetica Solar, while providing stable, long-term returns to our investors,”
stated George Theodoropoulos, Managing Director and Head of Fengate’s Infrastructure investment business.
Both Roanhead and Raventhorpe began commercial operation in March 2015 and both will receive 1.4 Renewable
Obligation Certificates (“ROCs”) per MWh of generation until the year 2035. The Raventhorpe project will sell power
under a private wire agreement with a neighboring steel plant until its permanent grid connection is established; following
which both projects will sell power and ROCs to Statkraft Markets GmbH. Combined, the two solar parks will potentially
displace an estimated 29,000 tonnes of greenhouse gases annually. This is the equivalent of taking about 6,000 cars off
the road per year or planting about 24,000 acres of trees.
The Fengate infrastructure team has built a robust portfolio of renewable energy projects in Ontario and British Columbia
including solar, hydro and biomass facilities. This acquisition increases Fengate’s power generation assets to over 300 MW.
The firm’s first power project overseas was Exmouth Power Station, a compressed natural gas power plant in Australia.
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About Fengate Capital Management
Fengate Capital is an asset management firm in the alternatives sector specializing in the management of customized
infrastructure and real estate investment funds for institutional clients. The Firm has approximately $2 billion in assets
under management with expertise in infrastructure, commercial real estate and seniors housing. With significant
experience in public-private partnerships, independent power projects and real estate developments, Fengate Capital
targets high quality investments across North America and select international markets. Since 2007, Fengate Capital has
been recognized as one of “Canada’s Best Managed Companies”.
Contact:
Emily Ondercin-Bourne
Public Relations Coordinator
emily.ondercin-bourne@fengate.com
Phone: 905.491.6573
5000YongeStreet, Suite 1805
Toronto, Ontario
M2N 7E9
fengatecapital.com
fengatecapital.com