(Credit: Pixabay)MetLife Investment Management, the institutional asset management business of MetLife, facilitated a $130 million investment, including $74 million on behalf of unaffiliated clients, in the senior secured private placement financing of Brookfield Renewable Partners’ Sidney A. Murray, Jr. Hydroelectric facility in Louisiana.
The Sidney A. Murray, Jr. Hydroelectric facility is a 192 megawatt run-of-river station located adjacent to the Mississippi River in Concordia Parish, Louisiana. It was developed in 1990 through the Catalyst Old River Hydroelectric Partnership, a partnership program with the Town of Vidalia, a local municipality.
According to MetLife Investment Management, the facility is one of the leading sustainable assets in Louisiana, providing renewable electricity generation through hydropower in a region of relatively high carbon intensity. It is also 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.
MIM’s Infrastructure platform is part of the firm’s Private Capital group. MIM’s Private Capital team, which comprises private placements, infrastructure, and structured credit, is active across a wide range of industry sectors, including general industrial, healthcare, professional services, retail, utilities, electric transmission, renewable power, social housing, and other infrastructure sectors.
This transaction follows MetLife’s recent release of its new 2030 Environmental Goals.
