Financing Rural Broadband in Western Canada
2 minute read | February.07.2025
Power Sustainable Infrastructure Credit has closed a financing for Canadian Fiber Optics Corporation, a fiber optics company based in Calgary, to support the build-out of broadband internet in rural Western Canada.
Orrick advised Power Sustainable.
THE COMPANIES
Power Sustainable is an alternative asset manager which finances companies and projects that aim for both competitive returns and positive sustainability outcomes. The firm offers institutional investors exposure to alternative assets, which aim to accelerate and scale sustainable solutions across multiple industries.
Power Sustainable is a subsidiary of Power Corporation of Canada (TSX: POW), an international management and holding company that focuses on financial services in North America, Europe and Asia.
Canadian Fiber Optics Corporation is a builder, owner and operator of fiber optic networks, providing high bandwidth, internet services to rural residences and businesses in Western Canada since 2017.
THE IMPACT
Canadian Fiber Optics Corporation plans to use the financing to contribute towards improved rural connectivity for communities that often lack basic internet.
"We are thrilled to be partnering with CFOC as it executes on a robust pipeline of growth opportunities throughout Western Canada,” said Managing Partner Tom Murray of Power Sustainable Infrastructure Credit.
“The company and ownership team's focus on building reliable, high speed, fiber networks for underserved communities in an environmentally responsible manner is highly aligned with our financial and sustainability objectives."
THE TEAM
John Donaleski led the team advising Power Sustainable Infrastructure Credit. The team included Ejemen Ofoman and Ryan Bullard.
LEARN MORE
Power Sustainable news release