Connor, Clark & Lunn Infrastructure Closes U.S. Renewable Power Investment

TORONTO, Jan. 11, 2021 /CNW/ - Connor, Clark & Lunn Infrastructure (CC&L Infrastructure) is pleased to announce that it has completed its previously announced acquisition of an 80% equity interest in a U.S. wind and solar portfolio.  

This transaction, which was completed alongside Régime de Rentes du Mouvement Desjardins and Desjardins Financial Security Life Assurance Company (together, Desjardins Group), included the purchase of four operating wind projects and one construction-stage solar project located in Indiana, Wisconsin, Oklahoma, and Ohio. Each asset is fully contracted through long-term power purchase agreements with high-quality offtakers, and the portfolio provides geographically diversified exposure to three distinct 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. "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 GW of renewable power globally, with more than 1GW in operation. On a combined basis, these operating facilities are expected to produce approximately 4 million MW hours of clean energy each year – enough energy to power more than 320,000 homes and offset the equivalent greenhouse gas emissions of more than 600,000 passenger vehicles for a year.  

About Connor, Clark & Lunn Infrastructure

CC&L Infrastructure invests in middle-market infrastructure and infrastructure-like assets with highly attractive risk-return characteristics, long lives and the potential to generate stable cash flows. CC&L Infrastructure is a part of Connor, Clark & Lunn Financial Group Ltd., a multi-boutique asset management firm whose affiliates collectively manage over CAD$85 billion in assets. For more information, please visit www.cclinfrastructure.com/.

SOURCE Connor, Clark & Lunn Infrastructure

Kaitlin Blainey, Vice President, Connor, Clark & Lunn Infrastructure, [phone], [email protected]