Fiera Infra, the infrastructure fund of Canadian-based Fiera Infrastructure, has acquired an indirect equity stake in a 912MW renewable energy portfolio in the US from DE Shaw Renewable Investment (DESRI) affiliates and other investors.

Three more power projects are expected to be added to the renewable portfolio this year, which will go along with the existing eight solar and wind power projects. The acquisition price offered for the stake by Fiera in the eleven power projects, located across eight states, has not been disclosed.

Fiera Infrastructure president Alina Osorio said: "This investment significantly enhances and diversifies our existing portfolio.

"All eleven projects have long-term power purchase agreements with investment-grade off-takers and long-term financing in place, providing stable returns to our investors. We expect to continue to invest alongside DESRI in future projects in the US."

The projects are either in operations already or are anticipated to be operating before being added to the renewable portfolio in which DESRI will continue to hold a stake in each of the projects.

DESRI is part of the DE Shaw group, an investment and technology development company that operates globally with over $41bn in investment capital as of 1 January.

DESRI president David Zwillinger said: “As DESRI looks to expand its renewable energy business across the US, it is pleased to have found in Fiera Infrastructure a new partner with tremendous expertise in the infrastructure space.”

In January, Fiera Infra had acquired 50% stake held by Suncor Energy in the Cedar Point II Limited Partnership, which is the owner of the 100MW Cedar Point II wind facility in Ontario, Canada.