Integrated Asset Management Corp. ("IAM") (TSX:IAM) and its private corporate
debt group, Integrated Private Debt Corp. ("IPD") announced today the closing of
a $31 million senior term loan to Red Lily Wind Energy Partnership. An
additional $17.5 million of senior and subordinated debt was provided by
Algonquin Power & Utilities Corp. ("APUC") (TSX:AQN). The project is owned by
Concord Pacific group, who invested approximately $19 million in equity.


The total capital raised will support the construction of the 26.4 MW Phase I
Red Lily Wind project ("Red Lily I") in south-eastern Saskatchewan, consisting
of 16 Vestas V82 wind turbine generators. Red Lily I is underpinned by a power
purchase agreement with SaskPower, an agent of the Crown.


Through its distinct operating subsidiaries, APUC owns and operates a
diversified portfolio of approximately $1 billion of clean renewable electric
generation and sustainable utility distribution assets in North America. 


Concord Pacific Group is a Canadian organization developing multi-phased, master
planned residential communities. Its developments include Concord Pacific Place
in Vancouver, British Columbia, Concord CityPlace in Toronto, Ontario, and
Concord Park Place in North York.


John Robertson, President of IPD, said "The Red Lily I transaction is our first
wind power investment and represents an attractive further expansion of our
diversified portfolio of infrastructure financings. We are very appreciative of
the opportunity to work with a renewable energy industry leader like APUC." 


IPD provides funding from the $1.0 billion Integrated Private Debt Fund LPs on
behalf of a number of pension funds and other institutional investors. IPD
offers fixed rate, investment grade term loans to mid-market companies for such
purposes as refinancing existing debt, business expansion, project financing and
management buyouts.


IAM is Canada's leading alternative asset management company, with approximately
$2.1 billion in assets and committed capital under management in private
corporate debt, private equity, managed futures, real estate and retail
alternative investments.
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