BBGI Global Infrastructure Invest $41 Million in Canada’s First Public-Private Partnership Project in the Hydropower Sector

On February 4, 2022, BBGI Global Infrastructure S.A. (LSE:BBGI) (“BBGI”) reached financial close on a $41 million investment in InPower BC General Partnership, the project company responsible for the John Hart Generating Station Replacement Project.

The project includes the design, construction, funding, maintenance and rehabilitation of a three-turbine, 132 MW hydro-electric power station on the Campbell River, British Columbia. The new infrastructure replaces the outdated aboveground facilities built in 1947 with a more reliable, seismically robust and environmentally friendly facility. The project is Canada’s first public-private partnership project in the hydropower sector. The investment was made through a limited partnership infrastructure investment fund, which acquired the project from SNC-Lavalin Inc.

BBGIis a responsible infrastructure investment company and a constituent of the FTSE 250 that invests in and actively manages for the long-term a globally diversified, low-risk portfolio of essential social infrastructure investments.

McMillan acted as counsel to BBGI in connection with this complex project finance. Candy Saga expertly led the national and multidisciplinary team comprising Brent Thomas and Michael Friedman.

McMillan’s Project Finance & P3 industry group is made up of lawyers with deep experience in the structuring and execution of major infrastructure projects. We are known for having a collaborative, problem solving approach to closing projects and meeting the requirements and financial objectives of both procurement authorities and private partners. We provide a complete range of services related to infrastructure, including assistance with procurement, construction, financing, environmental review, community consultation, tax and regulatory issues. We have been involved in transactions of all types of public infrastructure arrangements including privatizations, outsourcing arrangements, public-private partnerships, concessions, leases and alternative financing structures. Having acted for parties on all side: lenders, consortia, primary subcontractors and public authorities, we are uniquely positioned to advise and represent all relevant stakeholders.