Integrated Asset Management Corp. (IAM) and its private corporate debt division, IAM Private Debt Group, have announced a financing of US$15 million for Biomont Energy Limited Partnership.
The loan from the IAM Private Debt Group will finance the construction and long term operation of a 4.8 MW cogeneration facility that will utilize landfill and natural gas to generate electricity and heat.
The electricity will be sold to Hydro-Québec under a 25-year power purchase agreement and thermal energy to local users. The facility is located in the City of Montreal near the Saint Michel Environmental Complex landfill (Canada).
The project’s limited partners are Eolectric Inc, Valeco Énergie Québec Inc and Fondaction CSN.
IAM is one of Canada’s leading alternative asset management companies with approximately $2.7 billion in assets and committed capital under management in real estate, private debt and managed futures.
Eolectric specializes in the development, financing, construction, and operation of renewable energy projects in North America. Eolectric, together with its partners, has developed more than 800 MW of operational wind farms, and holds a portfolio of renewable energy projects representing almost 2,000 MW.
The VALECO Group is a French company focusing on renewable energy projects owned by the Gay Holding (64.6%) and the Caisse des Dépôts et Consignations (35.6%). VALECO specializes in the development, financing, construction, operation and maintenance of renewable energy projects in France. The VALECO Group operates wind farms and solar photovoltaic farms with an aggregate installed capacity of approximately 255 MW and has approximately another 180 MW under construction.
Fondaction CSN manages $1.5 billion in assets from retirement savings collected from over 131,000 shareholders.