Aquila Infrastructure Commences Strategic Partnership With Riverbank Power
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 05/14/12 -- Aquila Infrastructure Management ("Aquila") is pleased to announce that its flagship investment vehicle, the Infrastructure Coalition Program (the "Program"), has entered into a strategic partnership with Riverbank Power Corporation ("Riverbank Power"), a Toronto-based developer of hydro-electric power, including run-of-river and pumped storage projects.
"We are delighted to have established this very important partnership" said Alina Osorio, Chief Executive Officer of Aquila, manager of the Program. "Riverbank Power has demonstrated expertise in hydro development, and the Infrastructure Coalition Program plans to continue to support Riverbank Power by providing financing for its portfolio of projects."
Under the terms of the agreement, the Program will provide up to CAD $50 million of equity-like financing to projects currently in or near development by Riverbank Power in North America. The first two projects include the 7.5 MW Dorena Lake project near Eugene, Oregon and the 4.7 MW near Dillon, Montana. These run-of-river hydro projects will be built on existing federally-owned dams owned by the US Army Corps of Engineers and the US Bureau of Reclamation, respectively.
"We are very pleased that Aquila chose to partner with us, and feel they will be a strong advocate for Riverbank Power," said John Douglas, CEO of Riverbank Power. "Entering into this agreement marks a significant milestone for Riverbank as we transition from developer to independent power producer."
About Aquila and the Infrastructure Coalition Program
Aquila is located in Toronto and was established in 2009 as a full service investment management services firm focused solely on the infrastructure sector. It delivers tailored investment solutions that offer advantages over traditional fund models.
Aquila's flagship fund is the Infrastructure Coalition Program, a closed-end investment vehicle with a mandate to invest in all infrastructure subsectors, in OECD countries globally. The Program achieved a first closing towards the end of 2011 with participation from Canadian institutional investors. It represents an innovative departure from other private investment funds, including the provision of strong alignment with investors.
Additional information about Aquila Infrastructure is available on the company's website at .
About Riverbank Power
Founded in 2007 and based in Toronto, Canada, Riverbank Power is a developer, constructor and operator of run-of-river and pumped storage hydro generation facilities in North and South America. With offices located in Oregon, Utah, Idaho, Canada and Peru, Riverbank Power is well positioned to become a market leader in hydropower in North and South America. The Company's combined development capacity of 500 MW of run-of-river and over 10,000 MW of pumped storage hydro generation projects represents the largest hydro development pipeline in the World.
Additional information on Riverbank Power is available on the Company's website at .
Contacts:
Aquila Infrastructure Management
Alina Osorio
Chief Executive Officer
+1 416 340-1937 x262
Aquila Infrastructure Management
Peter Clermont
Director
+1 416 340-1937 x234
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Datum: 14.05.2012 - 13:00 Uhr
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News-ID 146010
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