Fengate Asset Management has acquired a 50 per cent stake in a 227 MWac portfolio of 12 operating solar projects in the western US. The investment is structured as a 50/50 joint venture with Clearway Energy. The deal is managed through Fengate Infrastructure Yield Fund with participation from the LiUNA Pension Fund of Central and Eastern Canada.
In December 2025, Fengate Asset Management acquired the remaining equity stake in Freeport Power Limited, gaining full ownership of its 440 MW cogeneration plant in Texas. Fengate had initially acquired a 50 per cent stake in November 2024 through its partnership with Ironclad Energy. The facility is located near the 260 MW Freeport Energy Center, which is already owned and managed by Fengate.
In September 2025, Fengate Asset Management and Alpha Omega Power secured tax equity financing for the 200 MW/400 MWh Vertus Energy Storage Project in Galveston County, Texas. The commitment was provided by First Citizens Bank and East West Bank, while construction and term debt were arranged with MUFG Bank, NordLB, and National Bank of Canada. The battery energy storage system is expected to begin operations in Spring 2026.
