Canadian fund manager Axium Infrastructure Inc said Thursday that it has closed the acquisition of a 50% stake in a 101-MW DC solar portfolio in Ontario from Japanese conglomerate Mitsubishi Corporation (TYO:8058).
The transaction includes the purchase of nine solar power plants in operation for an undisclosed sum. These additions expand Axium’s existing portfolio in Canada and the US to 48 solar installations with a combined capacity of about 600 MW.
“The acquisition of this portfolio is in line with our objective of assembling a strong and diversified renewable energy portfolio in North America,” said Juan Caceres, vice president and senior investment director of Axium Infrastructure Inc.
In December 2018, Axium agreed to buy an 80% stake in a 499-MW wind portfolio from EDPR Renewables North America LLC, including the 100-MW Nation Rise facility in Ontario. A consortium led by it also completed the acquisition of the remaining two-thirds equity interest in the 270-MW K2 Wind Facility in the same Canadian province.