Aurium assisted Fengate Capital Management with the purchase of two UK solar parks from Kinetica Solar for C$110m. Macquarie provided the senior debt financing. Fengate Capital Management is a major Canadian asset management firm in the alternatives sector, specialising in the management of customised infrastructure and real estate investment funds for institutional clients. This transaction represents Fengate’s first investment in the United Kingdom. The parks are the 39 MW Raventhorpe site in North Lincolnshire and the 7 MW Roanhead site in Cumbria. Raventhorpe is the UK’s sixth largest solar park and the largest solar park in the Fengate portfolio. In 2014 Aurium provided finance for the construction of these parks which now has been successfully repaid.
“As our first investment in the UK market, this is an opportunity to strengthen our relationships with market participants such as Aurium, Macquarie 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.