The 192MW run-of-river station located adjacent to the Mississippi River in Concordia Parish, is one of the leading sustainable assets in Louisiana. It was developed in 1990 through the Catalyst Old River Hydroelectric Partnership, a partnership program with the Town of Vidalia, a local municipality, and is part of the Old River Control Complex, a collection of four structures operated to better manage flooding in the region.
The $130 million investment, part of a larger $560 million private placement financing executed by Brookfield, was facilitated by MIM’s Infrastructure team and funded by MetLife and six unaffiliated clients. The proceeds support Brookfield’s ownership of the facility as a global leader of renewable power with strong ESG principles and practices.
“Given the volatile backdrop this year as a result of the pandemic, our ability to deliver execution certainty amidst challenging markets remains critically important to our clients and to our issuers and sponsors, such as Brookfield,” said John Tanyeri, MetLife Investment Management’s global head of Infrastructure. “This investment is perfectly aligned with our long-term focus on and commitment to environmental sustainability.”