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GLDN 0.055 +0.0% BRON 0.040 +0.0% BTO 5.43 −0.7% ESK 0.365 −2.7% AUMN 0.275 +0.0% GGX 0.040 +0.0% S 0.155 +29.2% NNX 0.035 +0.0% ABX 51.90 −0.6% TTS 2.40 −4.0% FCI 0.400 −9.1% GR 0.075 +0.0% AII 23.38 +12.4% TUNG 1.72 +1.8% LGO 1.01 −2.9% EMM 0.080 +0.0% GLDN 0.055 +0.0% BRON 0.040 +0.0% BTO 5.43 −0.7% ESK 0.365 −2.7% AUMN 0.275 +0.0% GGX 0.040 +0.0% S 0.155 +29.2% NNX 0.035 +0.0% ABX 51.90 −0.6% TTS 2.40 −4.0% FCI 0.400 −9.1% GR 0.075 +0.0% AII 23.38 +12.4% TUNG 1.72 +1.8% LGO 1.01 −2.9% EMM 0.080 +0.0%
Financings Routine +

Power Sustainable Infrastructure Credit Closes Senior Secured Financing for Novilla RNG's Dairy Renewable Natural Gas Platform

Power Sustainable's $45M Novilla RNG financing scales platform but fails to offset near-term retail credit headwinds; +8% run into print prices in modest optimism.

By The Northwire Desk — AI Analysis Jun 29, 2026 · 08:00 POW · 86.47 POWER CORPORATION OF CANADA SV
Executive Summary
  • Power Sustainable Infrastructure Credit (PSIC) closed a $45 million senior secured financing for Novilla RNG, a developer, owner, and operator of dairy renewable natural gas assets.
  • Capital is designated for growth capital expenditures, specifically construction of two greenfield dairy RNG projects in South Dakota and advancing Novilla's broader development pipeline.
  • Novilla currently operates five dairy RNG projects in the United States; sponsored by ERA Partners LLC since 2021.
  • This is PSIC's tenth investment across North America; total capital aligned to the strategy exceeds $1 billion.
  • Management quotes emphasize technical capabilities, durable outcomes, and flexible capital for pipeline advancement.
Material Impact
  • The $45M Novilla RNG financing is a routine platform deployment for Power Sustainable, aligning with the Q1 2026 narrative of scaling the infrastructure credit platform. It does not materially alter Power Corp's consolidated earnings, NAV, or capital allocation trajectory. The stock's +8% run into the print suggests the market had already priced in continued execution momentum. The news is positive but incremental, lacking the catalyst required to re-rate the business.
POW · Price
Company Overview
  • Power Corporation of Canada is a diversified holding company with interests in insurance (Great-West Lifeco), asset management (IGM Financial, Sagard), alternative investments (Power Sustainable, Wealthsimple), and a European holding company (Groupe Bruxelles Lambert). It operates across financial services, wealth management, private equity, private credit, and infrastructure.
Read the original news release →

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