Fengate is a developer and equity investor in the high-profile ConRAC development project underway at Los Angeles International Airport (LAX). This new facility will consolidate the operations of rental car agencies at LAX, which are currently spread across 23 separate properties surrounding the airport. Comprising 5.3 million square feet, the LAX ConRAC will be the largest ConRAC facility ever built and will be connected to LAX’s Central Terminal Area via a train system. The US$2 billion project includes all design, construction, financing, commissioning, operations and maintenance costs over the 28-year concession period and is focused on a greatly enhanced LAX passenger experience, reduced traffic congestion, reduced carbon emissions and environmental impacts, increased operational efficiencies, and improved land use.
Edmonton Valley Line Light Rail Transit | Alberta, Canada
Fengate is an equity investor in this $1.7 billion infrastructure project, the largest in Edmonton’s history, being delivered using a public-private partnership model. We are a member of TransEd Partners, the consortium selected to design, build, finance, operate, maintain and supply vehicles for the Valley Line LRT — Stage 1. This project is a significant part of Edmonton’s transportation plan, designed and built to meet the demands of one of Canada’s fastest growing cities.
PowerFin Partners Co-Development Partnership | Texas, USA
In 2018, Fengate forged a US$100 million equity commitment and co-development partnership with Texas based PowerFin Partners including the acquisition of a 9.1 MWdc portfolio of operating solar projects in Austin and San Antonio, Texas, from PowerFin, as the seed investment. The multi-year investment will fund the development and construction of PowerFin’s significant pipeline of solar projects in Texas. In addition, Fengate will exclusively invest in all the partnership’s solar projects for the forthcoming years.
In September 2018, Fengate acquired the Heartland Petrochemical Complex’s Central Utility Block (CUB) from Inter Pipeline Ltd. (IPL), assuming full responsibility for funding construction of the CUB, representing capital costs currently estimated at $600 million. Fengate also entered into long-term agreements to supply electricity and other utilities to IPL’s Heartland Petrochemical Complex in exchange for structured capital and operating recovery fee payments from IPL, and has engaged IPL to manage the construction of the CUB and the day-to-day operations of the facility once in service. The CUB is a 102 MW natural gas-powered cogeneration facility capable of supplying IPL with electricity, steam and other key utilities for its 100% owned $3.5B Heartland Complex near Edmonton, Alberta.
Oakville Hospital | Ontario, Canada
Fengate acts as a developer and equity investor in one of the largest healthcare Design-Build-Finance-Maintain projects in Canada. This 457 bed, 149,000 m2 facility provides a full range of health services, including: acute care (maternal, mental health, critical care, emergency, surgical, complex continuing care, rehabilitation), outpatient (cancer, nephrology, rehabilitation, cardio-respiratory, nuclear medicine, surgical daycare, diagnostic imaging, ambulatory, diabetes, neurophysiology), support services (laboratory, medical device, biomedical) and education programs.
Elgin County Courthouse | Ontario, Canada
As a member of the consortium contracted to design, build, finance and maintain the Elgin County Courthouse under a 30-year contract term with Infrastructure Ontario, Fengate is an equity investor in the project on behalf of a group of institutional investors. The new facility is designed and built to meet LEED Silver certification. Winner of the 2014 CCPPP Gold Award for Innovation and Excellence.