AMP Capital has made a $200 million investment in the subordinated debt of Invenergy Clean Power, which develops, owns and operates power generation and energy storage facilities in North America and Europe.
The loan facility, arranged solely by AMP Capital, is secured by a portfolio of Invenergy natural gas-fired power plants in the US and Canada.
AMP Capital’s Infrastructure Debt Fund II (IDF II) will provide US$150 million of the loan, with the remaining US$50 million warehoused by AMP Capital for future strategies.
The investment is AMP Capital's second transaction with Invenergy and, according to the investment house, "reinforces AMP Capital’s ability to create long-term partnerships with project sponsors by offering flexible, structured solutions".
AMP Capital infrastructure debt principal Patrick Trears said: "We are excited about strengthening our partnership with a leading developer and operator in the North American energy space and delivering another strong investment for IDF II investors.
"AMP Capital acted as the lead arranger for this bespoke mezzanine debt solution, which enables Invenergy to continue to grow its successful thermal generating platform."
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