(Sharecast News) - Investment company BBGI Global Infrastructure said on Monday that it had completed an investment in InPower BC General Partnership, the entity responsible for delivering the John Hart Generating Station Replacement project on the Campbell River in British Columbia.
BBGI Global Infrastructure, which made the investment made through its existing strategic partnership with SNC-Lavalin Group, said the public-private partnership project consists of the design, construction, financing, maintenance, and rehabilitation of a new three-turbine, 132-megawatt hydroelectric power generation station.
The FTSE 250-listed firm stated its investment was approximately CAD $41.0m (£23.79m) and was being funded from existing cash resources, drawing upon the company's £230.0m corporate revolving credit facility.
Following the acquisition, BBGI will own "a globally diversified portfolio" of 55 infrastructure investments in the schools, healthcare, blue light, affordable housing, justice facilities, and transport sectors, located in Australia, Canada, Continental Europe, the UK, and the US.
Co-chief executive Duncan Ball and Frank Schramm said: "We are delighted to complete this high-quality availability-based infrastructure investment with strong ESG credentials.
"Our strategy is to remain disciplined and selective in our approach to acquisition opportunities by only investing in availability-based assets that also align with our ESG principles, and not in higher-risk infrastructure asset classes."
As of 0815 GMT, BBGI shares were up 0.53% at 171.70p.
BBGI Global Infrastructure (BBGI)23 Apr 2024 14:29