TORONTO — Toronto-based Connor, Clark & Lunn (CC&L) Infrastructure announced Jan. 11 that it has completed its previously announced acquisition of an 80 per cent equity interest in a U.S. wind and solar portfolio that includes one construction-stage solar project.
The deal was completed with the participation of Desjardins Group.
In addition to the construction-stage project, the portfolio includes four operating wind projects. Each project is contracted through long-term-power purchase agreements, and the portfolio, with assets in in Indiana, Wisconsin, Oklahoma and Ohio, is said to provide geographically diversified exposure to three separate U.S. electricity markets.
Construction of the solar facility began in December 2020 and is expected to be operational later this year or early in 2022.
“Completing this investment achieves an exciting milestone for our business,” said Matt O’Brien, president of CC&L Infrastructure in a statement. “The addition of these projects increases the total capacity of our renewable power portfolio well past a gigawatt globally. We look forward to operating these high-quality projects alongside our partners over the coming years.”
CC&L Infrastructure now owns approximately 1.4 gigawatt of renewable power globally, with over one gigawatt in operation.