TORONTO, April 19,
2024 /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 the Sharp Hills wind farm (Sharp Hills,
or the Project), from EDP Renewables Canada Ltd. (EDPR Canada), a
subsidiary of EDP Renewables, a leading global renewable energy
producer. With this investment in Sharp Hills, CC&L
Infrastructure now owns approximately 1.8 GW of renewable power
across Canada, the U.S., and
Chile, with overall assets under
management of approximately $6
billion.
At approximately 300 MW of capacity, Sharp Hills is one of the
largest onshore wind farms in Canada, representing clean energy generation
equivalent to the amount of power used by more than 160,000
Alberta homes. The project
completed construction and reached full operations in early 2024,
and is fully contracted under a 15-year power purchase agreement
with a high-quality counterparty.
"This investment in Sharp Hills marks our first wind investment
in Canada, further diversifying
our infrastructure portfolio across sector and geography," said
Matt O'Brien, President of CC&L
Infrastructure. "We are pleased to once again be partnering with
EDPR and look forward to owning and operating the Sharp Hills
project together over the coming years."
This transaction is CC&L Infrastructure's second partnership
with EDPR, having previously acquired a 560 MW portfolio of U.S.
wind and solar assets in 2020. On a combined basis, CC&L
Infrastructure's partnership with EDPR totals more than 800 MW of
operating renewable energy projects across Canada and the U.S.
About Connor, Clark & Lunn Infrastructure
CC&L Infrastructure invests in middle-market infrastructure
assets with attractive risk-return characteristics, long lives, and
the potential to generate stable cash flows. To date, CC&L
Infrastructure has accumulated approximately $6 billion in assets under management diversified
across a variety of geographies, sectors, and asset types, with
over 90 underlying facilities across over 30 individual
investments. 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$127 billion in assets.
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SOURCE Connor, Clark & Lunn Infrastructure