Vision Flow-Through Limited Partnership (“Vision LP”) strives to create sustainable
long-term returns for investors by funding
the development costs of Renewable Energy Projects in Canada, such as Hydro Power
(“Run of River Hydro”). Vision issues Flow-Through Limited Partnership units to raise
capital and executes innovative investment arrangements that provide tax advantages for its
Vision Limited Partners’ investments represent approximately 20% of the capital costs of
project. These expenses qualify as Canadian Renewable Conservation Expenses (CRCE); a
expense for Canadian Income Taxes.
Backed by an experienced management team, Vision Flow-Through LP is equipped to become a leader in renewable energy in Canada, that bring steady attractive return to investors as well as reduce the greenhouse gases emission.
The investment objectives of the Partnership are to provide Limited Partners with:
by investing in the start-up, development, construction and operation of small hydroelectric run of river power plants generating up to fifteen megawatts of hydro power per year (“Hydro Projects”) and other renewable energy projects located in Canada.
Vision LP will invest on small hydroelectric power plants or other renewable energy projects in Canada. It will incur the start-up costs associated with the Projects which includes preliminary engineering work and feasibility studies on the prospective Projects. Up to 100% of these expenses will qualify as CRCE. Those expenses in the start-up phase which do not or are not expected to qualify as CRCE will be incurred by the Developer, if applicable.
For the prospective Projects that has passed feasibility study, interconnection study and other government requirements, Vision LP will apply for Power Purchase Agreements. If awarded, the electricity generated by the Projects will be purchased by local electricity distribution companies, at fixed rates including a Consumer Price Index adjustment wherever applicable and for a fixed term of up to forty years.
The royalty payments or revenues generated through the Projects will provide a steady long-term income for the Vision LP Unit holders.
Hydro Power is a reliable, clean, flexible and cost-effective energy source that can be implemented in a variety of watercourse landscapes. Generally, a Hydro Power Station is comprised of turbine generators that turn the kinetic energy of the falling or running water into electrical energy. Worldwide, Hydro Power is the largest contributor of electricity from renewable sources. Across Canada, it has become a foundational component of the country’s energy supply, account for over 60 percent of the nation’s electricity generation.
Hydro Power is a growing industry with attractive long term returns. The Canadian Hydropower Association notes that over the next 20 years’ Hydro Power project development in the country has the potential to generate over $125 billion in investments. Hydroelectric facilities can be run of river systems or storage reservoir systems. Run of river systems temporarily divert water from the river as it moves and requires no (or minimal) water storage.
At Vision LP, we focus on the development of run-of-river (“ROR”) projects. ROR projects do not require the creation of large impoundments that temporarily store water. ROR’s are designed to divert the flow of water to a powerhouse which then produces energy and immediately returns the water to the river to preserve hydrological flow patterns.
As a result, run-of-river projects have a smaller environmental footprint than large reservoir storage hydro projects. ROR projects are also an incredible way to diversify economic activity in remote areas. Overall, run-of-river projects are environmentally sustainable developments that produce socio-economic benefits for many years.
Figure 1 above shows a typical run of river hydro project. Water is diverted from the river through a penstock to a powerhouse and generating unit where it goes through the turbines and produces power.
Vision LP provides approximately 20% of the capital costs of each project. The 80% balance of construction costs would be funded through debt provided by banks, financial institutions and/or other Long Term Lenders. A simplified diagram illustrates below for the funding structure:
The Canadian Federal and Provincial Governments encourages businesses to invest in clean
generation and energy efficiency equipment by providing an accelerated Capital Cost
rates under Class 43.1 and Class 43.2. These classes include a variety of equipment
generates or conserves energy by using a renewable energy source (e.g., wind, solar,
hydro), using fuels from waste, or by making efficient use of fossil fuels.
Up to 100% of start-up expenses for the Projects are qualify as CRCE. A simplified case of illustration is listed below to demonstrate the concept of Tax Savings, money at risk and break-even proceeds of disposition for your reference.
Note: The calculations are based on the estimates and assumptions set out in the “Notes and Assumptions” in Memorandum of Vision LP, all of which are integral to and form a part of the calculations, and are qualified accordingly. The actual tax savings, money at risk and break-even proceeds of disposition may differ from those shown above.
There are significant tax advantages. Additionally, you gain access to professional management, a diversified renewable portfolio and opportunities that may not be available to individual investors. There is also the opportunity for liquidity events as projects are completed which may include unit redemptions at their Net Asset Values, or a transfer to a publicly trading entity.
Typically, investors buy units of an FTLP by way of a private placement. An FTLP
includes a General
Partner that manages the operations and investments, and Limited Partners (the
investors). The proceeds from the Units will be invested in small hydroelectric power
or other renewable energy projects in Canada.
The General Partner and the Manager have assembled a management team with experience in the resource, and financial sectors.
Pursuant to a management agreement among the Partnership, the General Partner and the Manager have been appointed to direct the affairs of the LP and provide day-to-day management services to the LP, including managing professional and technical firms that will provide services for project selection, resource assessment, risk assessments, contractor selection for engineering, procurement and construction services, and so on.
The General Partner and the Manager have assembled a management team with experience in the resource, and financial sectors. Brief biographies of the directors and officers of the General Partner and the Manager are set out below.
Hydro Power is a reliable, clean, flexible and cost-effective energy source. At Vision LP, we focus on the development of run-of-river (“ROR”) projects. ROR’s are designed to divert the flow of water to a powerhouse which then produces energy and immediately returns the water to the river to preserve hydrological flow patterns.
As the popularity of clean energy moves to the forefront of public policy and social awareness, as well as the technology advancement and cost reduction, demands for hydro, wind and solar generation increase. In turn, the deployment of renewable energy is accelerating in the market. Explore renewable energy news, technologies, policies and trends here.
Kym Anthony is an experienced and seasoned banking executive who has extensive
national and international experience in the
banking industry. Mr. Anthony received a B.A. from Simon Fraser University and an
from the University of Western Ontario.
Mr. Anthony was the President and Chief Executive officer of National Bank Financial, the investment banking and capital markets unit of National Bank of Canada. Prior to that, Mr. Anthony was Chair and Chief Executive Officer of TD Securities and a Vice-chair of TD Bank. Mr. Anthony is the former Chair of the Investment Dealers Association of Canada as well as the Chair of the Board of Avivagen Inc, a TSX Venture listed biotech company. Mr. Anthony is also a director and investor in several private corporations and the Jane Finch “Reaching Up” Children’s Charity.
Peter Kampian, a Chartered Accountant, is an energetic financial executive with
over 25 years’ experience in investment,
infrastructure, electrical generation, manufacturing, with both private and
Peter is a BBA (Business) graduate of Wilfred Laurier University and was admitted as a Chartered Accountant in 1986. He has held many directorships and offices such as CFO at Algonquin Power Systems to 2007. Since 2014 Peter has been the CFO of Mettrum Health Corp (acquired by Canopy Growth Corporation). He has an encompassing range of experience in mergers, acquisitions, restructurings, and in the methodology of financing them.
Peter’s work ethic, vision and ability to identify and engage value-added opportunities will be a welcome addition to our board
Peter D’Uva’s career in the Ontario Utility businesses has spanned a period more
than 30 years. Peter began his hydro career
in York, Ontario in 1967 as Manager of Customer Services Toronto Hydro. He has
as Senior Vice President, Customer Services – Toronto Hydro Electric System; then
President, Toronto Hydro Street Lighting Inc.
Peter began his studies in Accounting and Business Management at Humber College and has augmented his skills subsequently with academic and professional courses. He has a solid history in customer services and has fulfilled his mandates by building highly motivated and effective teams. Implementing strategic planning, creating and enabling processes and procedures led to high ratings of customer satisfaction.
Peter is currently a consultant with expertise in intergenerational transfer of assets, responsibilities and protection of wealth family businesses.
Chief Financial Officer
Paul is a successful Business Executive with over 20 years of experience in capital markets and corporate strategy. His capital markets experience encompasses senior roles for both buy-side and sell-side firms. On the buy-side, he has managed portfolios for global investment strategies in both debt and equities. On the sell-side, his experience includes senior roles in M&A/investment banking, and equity research at HSBC, Scotiabank Global Banking and Markets and Deutsche Bank Securities. Mr. Mesburis holds the Chartered Professional Accountant (Ontario), Certified Public Accountant (Illinois) and Chartered Financial Analyst designations. He currently serves as a director of several Canadian publicly listed corporations.
Chief Administrative Officer
Tracy Zheng is an accomplished business strategist with over 20 years of management
experience in brand marketing, investments,
business development and solar project operations management. Ms. Zheng joined the
team of Abundant Solar Energy after several years at Sky Solar Canada where she was
for managing sales teams, financial and project viability analysis, and partnership
Prior to Sky Solar, she developed a plethora of international business exposure specializing in branding and marketing strategy through senior marketing positions in various companies such as Colgate-Palmolive, Clairol, marketing research and internet companies. She’s proficient in developing marketing plans, strategies, identifying market opportunities and executing field activities. She has successfully led many new product launches, national marketing campaigns and advertising and communications programs.
She holds both a Bachelor of Science in Engineering from Sun Yat-Sen University, and an MBA from York University.
Chief Executive Officer
Reg Handford holds a MSc in Mathematics and has decades of experience in the
financial services industry dating back to the
early-1980s as a regustered representative and wealth management advisor with
Reg honed his financial skills by sipporting start-up companies in the resource and technology field and assisted them in both capital raising and strategic management of several companies that graduated to the Canadian and US senior stock exchanges.
In recent years, Reg held senior management postions responsible for the compliance filings of various US listed companies that acquired emerging businesses via merger agreements and graduating to the Nasdaq Stock Exchanges.
Hydro Projects developments are complex, involve a range
of environmental, archeological,
land use planning and regulatory aspects, as well as electrical, geotechnical and
engineering. General Partner of Vision LP works with the most experienced
in the industry to ensure the success of the Project Development.
We are going through the following stages to make sure taking the ROR Projects from concept to operation effectively.
At this stage, we will identify potential site and collect topographic data
to study the site, visit the site, develop the
conceptual project layout, cost estimations, energy and financial models,
assess whether the Project is feasible.
The Business Plan is like a big road map of projects, will include management plan, financial objectives and projections, cost analysis, Site information, preliminary site development plan and project timeline.
The potential project will go to the next stage to analyze its feasibility.
The Feasibility stage examines environmental, social, regulatory and
economic factors to determine whether a given project
is viable. This process includes identifying key constraints that may
development, such as land title, First Nation’s and other community
valued ecosystem components, parks and protected areas. Economic factors
also considered including the electricity market, the capacity of the
resource, site access, transmission infrastructure, capital costs and
The feasible project will go to the next stage to analyze its energy potential.
The assessment works through a combination of desk-based modeling and filed data collection to quantify the energy generation potential of a given site. Stream hydrology is determined by collection continuous stream state data using in-situ data recording equipment. With this real-time data from Stream Hydrology and long term record collected at nearby Water Survey Canada stations, allowing the Project Hydrologist to derive a 20-year synthetic stream flow model, to predict future stream flow and potential power generation. As information in collected, the technical, financial, and regulatory viability of the project is analyzed and confirmed then proceed to the Interconnection Application.
The utility screening study is required to determine the high-level impacts of the project on the local utility’s distribution system, as well as the costs for the project interconnection. Every generator project connected to the grid requires an Interconnection Agreement. Projects acquire Interconnection Agreement with reasonable Interconnection cost will go to the next stage.
The Regulatory Permitting stage of the Project Development includes stakeholder and First Nation consultation, working with local municipality for Zoning and Development Permit and various government agencies for Permits related to water and detailed environmental assessment.
With the Interconnection Agreement and successful acquisition of the Permits, Vision LP will apply for the Power Purchase Agreement (“PPA”) from the Local Distribution Company. If PPA is awarded, the electricity generated by the Project will be purchased by local electricity distribution companies, at fixed rates including a Consumer Price Index adjustment where applicable and for a fixed term of up to forty years.
All other Permits required by execution of PPA will be acquired. During this stage, engineering and project design evolve in response to information collected by environmental, geotechnical, cultural and other assessments. This process defines the optimal design and generation capacity of the Project, which determines the Procurement and Construction plans and costs.
Vision LP will work with the experienced General Contractor to successfully deliver the Project to Commercial Operation. General Contractor will be responsible for Procurement and Construction. General Partner of Vision LP will work with the Contractor to oversee project timeline, communications and coordination with various parties, including government agencies and utilities, financiers and the Project Team.
After the Project reaches Commercial Operation, the Asset Manager of Vision LP will work with Operation & Maintenance contractors to ensure the smooth operation of the Project. Profit generated from the Projects will be distributed to LP Unit holders per LP Agreement.
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Based out of Toronto, Canada our team is able to coordinate projects throughout the country.
2235 Sheppard Ave E. Suite 900, Toronto, Ontario M2J 5B5
Tel: +1 888 334 2767
Fax: +1 416 494 1746