Canadian infrastructure investment management firm Fiera Infrastructure has made its first sole investment in the UK. It has acquired a solar PV portfolio of 13,259 residential and commercial rooftop systems, and ground-mounted solar, across England and Wales totalling 41MWp. The portfolio has a 20-year feed-in tariff. The acquisition was supported by LGIM Real Assets (Legal & General), which provided £48 million of senior financing.
Tom Sumpster, head of infrastructure debt at LGIM Real Assets, said: “We are delighted to have closed our first staple financing in the infrastructure sector and to have supported Fiera in their UK expansion. The investment from Fiera signals the strength of UK renewables as an investment proposition to international Infrastructure investors. This sector continues to be a significant focus for LGIM Real Assets and this transaction provides a stable investment grade income stream for our clients.”