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Press release content from PR Newswire. The AP news staff was not involved in its creation.

Fengate announces commercial operation of Weaver wind project

December 17, 2020 GMT
Fengate Asset Management (CNW Group/Fengate Asset Management)
Fengate Asset Management (CNW Group/Fengate Asset Management)

HOUSTON, Dec. 17, 2020 /PRNewswire/ - Fengate Asset Management (“Fengate”) is pleased to announce commercial operation, tax equity funding and term conversion of the 72.6 megawatt Weaver wind project in Hancock County, Maine (“Weaver”). Weaver is a new and significant source of clean energy for Maine.

“Fengate is very pleased the Weaver wind project is operational and we could not have reached this milestone without great partners like Longroad, U.S. Bank and MUFG,” said Greg Calhoun, Managing Director, Infrastructure Investments, Fengate. “This project provides a new source of clean, reliable energy for Maine and is a significant renewable energy investment for our investors.”

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Weaver was a successful co-development partnership between Fengate and Longroad Energy Partners, LLC (“LEP”) starting in December 2018. Fengate acquired Weaver from LEP in August 2019 and financial close occurred shortly thereafter in October 2019. LEP’s affiliate, Longroad Energy Services, will provide construction management, asset management, operations and maintenance, and remote monitoring services to the Weaver project.

Fengate is managing this investment on behalf of the Fengate Core Infrastructure Fund III and its affiliated entities, including an investment fund owned by the LiUNA Pension Fund of Central and Eastern Canada.

About Fengate
Fengate is a leading alternative investment manager focused on infrastructure, private equity and real estate strategies. With offices in Toronto and Oakville, Ontario, and Houston, Texas, Fengate is one of the most active real asset investors in North America and the firm has been investing in infrastructure across North America since 2006. Learn more at www.fengate.com.

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SOURCE Fengate Asset Management