Kensington and Genalta Power Partnership Developing Well

In January, Kensington announced the successful closing of its final investment for the Kensington Power Income Fund (KPIF) which owns equity interests in 10 electrical generating plants, 9 of which are operated by Genalta Power.

Kensington and Genalta have formed a partnership that Provides Kensington with the right to acquire an interest in Genalta’s future projects. This combines Genalta’s development pipeline and operating skills with Kensington’s infrastructure investment program has improved access to capital while Kensington has improved access to projects.

Recently, Kensington Chairman and Managing Director, Tom Kennedy along with Managing Director and head of Kensington’s infrastructure business, John H. Walker joined the Genalta Board of Directors. That Board includes representation by Enbridge, the largest shareholder in Genalta.

Kensington’s focus is to help Genalta reduce their overall cost of capital and recently Kensington helped negotiate the re-purchase of debenture at a 25% discount.

Overall Genalta continues to strengthen their pipeline of power opportunities and Kensington is helping Genalta plan the financing they need in order to capture new growth opportunities.