Macquarie Power & Infrastructure Income Fund Hosts 2007 Analyst Day
- Provides long-term performance expectations for wind, hydro assets
- Announces release of 2007 Investor Pack and Model
TORONTO, ONTARIO (November 15, 2007) – Macquarie Power & Infrastructure Income Fund (TSX: MPT.UN; MPT. DB – “MPT” or the “Fund”), which invests in essential infrastructure assets in North America, will hold its 2007 Analyst Day today in Toronto to highlight the continuing solid performance of its power and social infrastructure assets and to discuss the Fund’s outlook for the balance of fiscal 2007 and beyond. The Analyst Day is being webcast live with accompanying slides and will be archived in the Investor Centre section of the Fund’s website at http://www.macquarie.com/mpt/investor_centre/events.htm.
“The Fund has delivered stable performance since inception and offers an attractive yield with the potential for capital growth over time,” said Gregory Smith, President and Chief Executive Officer of the Fund. “In addition, we have the expertise and resources to capitalize on investment opportunities in North America that will extend the life of our assets, further diversify our portfolio and enhance the Fund’s stability.”
The Fund also announced its current long-term performance expectations for its Erie Shores Wind Farm (“Erie Shores”), located in Ontario, and its hydro facilities, which are located in Ontario and British Columbia. These facilities were acquired pursuant to the Fund’s unit exchange takeover of Clean Power Income Fund, which was completed on June 27, 2007.
As part of its takeover due diligence process, the Fund commissioned an independent analysis of Erie Shores. Based on this analysis, along with the solid performance of the facility since the commencement of operations in May 2006, the Fund expects Erie Shores to deliver annual production of approximately 245,600 MWh.
The Fund also expects each hydro facility to achieve annual long-term average (“LTA”) production as noted below. These figures are based on the actual annual production of each hydro facility averaged since the start of full operations:
|
LTA (MW h) |
Start of Operations |
Sechelt |
86,322 |
1997 |
Hluey Lakes |
6,494 |
2000 |
Dryden |
19,514 |
1994* |
Wawatay |
54,030 |
1994 |
*No data available prior to1994
In addition, the Fund also announced the release of its 2007 Investor Pack and Model, which is intended to aid the investment community in valuing the Fund and is based on publicly available information. The Model permits users to input various metrics to model the Fund’s financial performance based on the research, analysis and estimates of the user. Please contact the Fund’s investor relations department at mpt@macquarie.com for more information about the Investor Pack and Model, or to request a copy.
About the Fund
Macquarie Power & Infrastructure Income Fund invests in essential infrastructure assets in North America with an emphasis on power infrastructure. MPT’s strategy is to acquire and actively manage a diverse, high quality portfolio of infrastructure assets to improve their financial performance and provide growing and sustainable distributions to unitholders. MPT’s portfolio includes investments in gas cogeneration, wind, hydro and biomass power generating facilities, totalling 459 MW of installed capacity, and a 45% indirect interest in Leisureworld Senior Care LP, a leading provider of long-term care, or social infrastructure, in Ontario. MPT is managed by a wholly-owned subsidiary of Macquarie Group Limited. Please visit www.macquarie.com/mptfor additional information.
Forward-looking Statements
Certain statements in this news release may constitute forward-looking statements, which involve known and unknown risks, uncertainties and other factors that may cause the actual results to be materially different from any future results expressed or implied by such forward-looking statements. Forward-looking statements use such words as “may”, “will”, “anticipate”, “believe”, “expect”, “plan” and other similar terminology. These statements reflect current expectations regarding future events and operating performance and speak only as of the date of this news release. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether or not such results will be achieved. A number of factors could cause actual results to differ materially from the results discussed in the forward-looking statements, including, but not limited to: risks associated with the Fund’s gas cogeneration, wind, hydro and biomass power generating assets and the power industry generally; risks associated with MPT’s interest in Leisureworld and the long-term care sector; risks associated with the structure of MPT; and risks associated with business, regulatory and economic conditions. The risks and uncertainties described above are not exhaustive and other events and risk factors including risk factors disclosed in MPT’s filings with Canadian securities regulatory authorities could cause actual results to differ materially from the results discussed in the forward-looking statements.
The forward-looking statements contained in this news release are based upon information currently available and what the Fund currently believes are reasonable assumptions. However, the Fund cannot assure investors that actual results will be consistent with these forward-looking statements. These forward-looking statements are made as of the date of this news release, and the Fund and the Manager assume no obligation to update or revise them to reflect new events or circumstances. The Fund cautions readers not to place undue reliance on any forward-looking statements, which speak only as of the date made.
For further information, please contact:
Harry Atterton
Chief Financial Officer
Tel: (416) 607 5198
Email: harry.atterton@macquarie.com
Aaron Boles
Investor Relations
Tel: (416) 649 1325
Email: aboles@capstoneinfra.com