Last updated on April 17, 2014 at 21:23 EDT

Eolectric and Fiera Axium announce the creation of an investment fund and a partnership for the Vents du Kempt wind farm

May 11, 2012

BROSSARD, QC, May 11, 2012 /CNW Telbec/ – Eolectric Inc. and Fiera Axium
Infrastructure Inc. are proud to announce the creation of an investment
fund, Eolectric Club, L.P. and completion of equity financing of the
Vents du Kempt wind farm through an association of the Eolectric Club,
L.P. with Fiera Axium Infrastructure Inc., who is the manager of Fiera
Axium Infrastructure Canada, Limited Partnership.

The purpose of the Eolectric Club, L.P. is to invest in wind farm
projects throughout Canada. Eolectric Club L.P.’s investors are
Eolectric Inc., Industrial Alliance Insurance and Financial Services
Inc. and Fiera Axium Infrastructure Canada, Limited Partnership.

The first investment of Eolectric Club, L.P. is into Vents du Kempt Wind
Power, L.P. This new entity will pursue, as successor to Vents du Kempt
Inc., the development, construction and operation of the 101.2 MW wind
farm, representing a total construction cost of approximately $340
million. Eolectric Club, L.P. holds a 51% interest in Vents du Kempt
Wind Power, L.P. and Fiera Axium Infrastructure Canada, Limited
Partnership. 49%.

”We are very pleased with the creation of Eolectric Club, L.P, and with
our partnership with Fiera Axium Infrastructure Canada, said Guy
Painchaud, President of Eolectric Inc. It is a major step which will
contribute greatly to the success of the wind farm project.”

The Vents du Kempt wind farm is composed of 44 wind turbines each having
a nameplate capacity of 2.3 MW to be built in the municipalities of
Causapscal and Sainte-Marguerite-Marie in the municipal regional county
of Matapédia, Quebec. The project has executed a 20 year power purchase
agreement with Hydro-Quebec Distribution as a result of Eolectric’s
successful bid in the 2005 call for tenders for 2,000 MWs of wind
power. The construction will begin this fall and will spread until its
commercial operation scheduled to occur on December 1(st) 2014.

“We are happy to invest in this very promising infrastructure project of
clean and renewable energy, declared Stéphane Mailhot, President and
Chief Operating Officer of Fiera Axium Infrastructure Inc. The Vents du
Kempt wind farm will supply enough energy for 10,000 homes.”

“Industrial Alliance is proud to be associated with Eolectric and Fiera
Axium Infrastructure in this quality project located in Quebec, which
add to our financing expertise in similar projects”, said Michel
Tremblay, Executive VP, Investments, at Industrial Alliance
Investments, Insurance and Financial Services Inc.

The creation of the Eolectric Club L.P. also marks the arrival of a new
investor for Eolectric Inc. projects and for wind farm projects of
other developers.

“By forming Eolectric Club L.P., Eolectric Inc. is firming up its
financial clout so that it can carry out all phases of development from
identifying potential wind farm sites to their operation while
respecting the quality standards and values of Eolectric Inc.”, Mr
Painchaud said. “We view the future of our company with a lot of
optimism and enthusiasm.”

Originally the Vents du Kempt project was a 100 MW wind farm powered by
50 turbines of 2 MW. The change to 44 turbines of 2.3 MW is subject to
the approval of Hydro-Québec Distribution.

The Vents du Kempt Wind Farm project in summary:

    Location :                            The Matapedia Valley, Quebec

    Capacity :                            101,2 MW

    Wind turbines :                       44 turbines Enercon E-82 - 2,3 MW

    Homes supplied :                      More than 10 000 homes powered by

    Project's total construction cost :   $340 millions

    Long term regional economic           Approximately $65 millions
    impact :

    Job creation:                         150 positions during construction
                                          and 10 positions during operation

    Beginning of work :                   Fall of 2012

    Start-up :                            December 1, 2014

About Eolectric Inc.

Eolectric Inc., located in Brossard, Quebec, is one of the major firms
in wind farm developement in Canada. A pioneer in this flourishing
industry, it is involved in the developement, construction and
operation of wind farm projects throughout Canada and Mexico. With
various partners, Eolectric has developed a total capacity of 569 MW of
wind farms which are currently under construction or in operation. It
has successfully assembled a portfolio of wind power projects in Canada
and Mexico totalling an aggregate capacity of 2 000 MW. Eolectric Inc.
lives by and adheres to high standards of sustainable development and
social acceptability.

About Fiera Axium Infrastructure Inc.

Fiera Axium Infrastructure Inc. is an independent portfolio management
firm dedicated to generating attractive, long-term investment returns
through investing in core infrastructure assets. The firm combines the
capabilities of a group of professionals with extensive infrastructure
development and management backgrounds, with the fund management
expertise of one of Canada’s leading independent fund managers in Fiera
Capital Corporation (TSX: FSZ). Its management team comprises
infrastructure investment specialists with decades of combined
experience acquiring, developing, financing, operating and managing
infrastructure assets. Fiera Axium Infrastructure is jointly controlled
by Fiera Capital and Axium Infrastructure Management. With $54 billion
in assets under management, Fiera Capital is a Canadian leader in
investment management that is renowned for its excellence in portfolio
management and innovative solutions. The company offers complete asset
management services including Canadian and foreign equities,
fixed-income securities, structured products, global asset allocation,
and alternative products to a diverse clientele composed of
institutional and private clients, pooled investment funds, and
religious and charitable organizations. Axium Infrastructure Management
has been established by Pierre Anctil to hold his interest in Fiera
Axium Infrastructure.

About Fiera Axium Infrastructure Canada L.P.

Fiera Axium Infrastructure Canada L.P. (“Fund”) is a closed-end
infrastructure fund managed by Fiera Axium Infrastructure Inc. which
completed its final closing on February 18, 2011 with financial
commitments totaling $460 million. The Fund is focused on both
brownfield and greenfield investment opportunities and seeks to invest
in core transportation, energy and social infrastructure assets all
across Canada. Focus is placed on assets that are supported by robust
market demand, under long-term contract with creditworthy
counterparties, within concession-based structures or under a regulated
framework. In addition to its investments in Eolectric Club, L.P. and
Vents du Kempt Wind Power, L.P., the Fund also has interests in: (i)
the CHUM Research Centre project, which is the first phase of the
Centre hospitalier de l’Université de Montréal (CHUM) modernization
project; (ii) the Sea-to-Sky Highway, which serves the
Vancouver-Whistler corridor; (iii) the Anthony Henday Drive Southeast
Leg Ring Road, which forms part of the ring road serving the City of
Edmonton; and (iv) Intoll Toronto Roads Limited, an unlisted Canadian
company that holds a 30% interest in the 407 ETR toll highway located
in Toronto, Ontario.

For more information on Fiera Axium Infrastructure, please visit the
following website: www.fieraaxium.com.

About Industrial Alliance

Founded in 1892, Industrial Alliance Insurance and Financial Services
Inc. is a life and health insurance company with operations in all
regions of Canada as well as in the United States. The company offers a
wide range of life and health insurance products, savings and
retirement plans, RRSPs, mutual and segregated funds, securities, auto
and home insurance, mortgage loans and other financial products and
services. The fourth largest life and health insurance company in
Canada, Industrial Alliance contributes to the financial wellbeing of
over three million Canadians, employs more than 4,100 people and
manages and administers more than $73 billion in assets. Industrial
Alliance stock is listed on the Toronto Stock Exchange under the ticker
symbol IAG.

SOURCE Énergie éolienne Vents du Kempt, s.e.c.

Source: PR Newswire