Cordelio Power sells 49% stake in Ontario renewable power portfolio to Axium Infrastructure

Torys acted as counsel to Cordelio Power with a team that included Huw Evans, Jacob Posen, Taylor Overing, Claire Chapman and Jason Lamb (corporate/M&A), Scott Kraag and Aren Thomasian (lending), Jerald Wortsman and Benjamin Mann (tax), Andy Gibbons and Brandi Tye (real estate), Jonathan Myers (regulatory), Omar Wakil and Ian Li (competition), Michael Fortier (environmental) and Scott Bell (pensions).

On January 12, 2021, Cordelio Power ("Cordelio") and Axium Infrastructure ("Axium") announced that Axium purchased a 49% interest in Cordelio's Ontario renewable portfolio.

The 396 MW "Denfield" portfolio includes four wind projects and two solar projects located in southwestern Ontario.

Cordelio will continue to manage the assets for the newly formed partnership.

Further information can be found on Canada Newswire’s website.

Cordelio, a wholly owned by CPP Investments, is a renewable power producer managing over 1,000 MW of renewable generation assets across North America, including 396 MW of wind and solar projects in Ontario (51%-owned by Cordelio) plus a 656 MW (net) wind and solar portfolio stake owned by CPP Investments. It also owns (wholly and through a joint venture) a growth pipeline of 2,500 MW of wind, solar and storage projects in the western and midwestern United States.