A consortium led by Axium Infrastructure Inc. (Axium) and composed of Axium Infrastructure U.S. L.P., John Hancock Life Insurance Company and Swiss Life Asset Managers has signed a purchase agreement to acquire an ownership interest in a portfolio of seven wind farms located throughout the United States from EDP Renewables (EDPR).
Upon completion, Axium and its investors will hold a 49% interest in 12 assets totaling 1.6 GW of installed capacity alongside EDPR.
All of the assets are fully contracted under long-term power purchase agreements with a weighted average remaining life of 16 years. The transaction is subject to customary closing conditions and regulatory approvals.
The transaction is the third acquisition by Axium and its investors in partnership with EDPR in the past two years.
Axium Infrastructure manages dedicated infrastructure funds having C$1.4 billion (US$1.1 billion) in assets under management.