DLA Piper (Canada) LLP acted on behalf of DIF Capital Partners (“DIF”) in connection with its investment in the 900-megawatt Cascade Power Project (“Cascade”). DIF will invest in the construction of Cascade together with joint equity sponsors OPTrust and Axium Infrastructure.
Cascade is a 900-megawatt combined cycle natural gas-fired generating facility to be located near Edson, Alberta. Cascade will lead the transition to a lower carbon intensive power grid in Alberta by supporting the province’s transition off coal-fired power, generating low emissions electricity that is expected to supply over 8 percent of the province’s average demand. Construction will start immediately with commercial operations commencing in 2023.
DIF Capital Partners is a leading global independent infrastructure fund manager, with €7.6 billion of assets under management across nine closed-end infrastructure funds and several co-investment vehicles. DIF invests in greenfield and operational infrastructure assets located primarily in Europe, the Americas and Australasia.
The DLA Piper Canada team on this transaction was led by Andrew Burton (Projects and Infrastructure/Corporate) and included Partners Mike Styczen (Calgary), Veronica Monteiro (Edmonton), Catherine Gibson (Vancouver), Andrew McFarlane, (Toronto), Catherine Pawluch (Toronto) as well as Associates Alex Sibley, Natasha Rana, Matthew Pollock, Lauren Storwick, Mitchell Smith and Prasad Taksal.