Canada's CC&L Infrastructure closes solar investment in Chile

Connor, Clark & Lunn Infrastructure (CC&L Infrastructure) has announced that it has entered into binding agreements to acquire 15 construction-stage, ground mount solar projects in Chile aggregating approximately 65 MW of capacity.

CC&L Infrastructure has closed on the investment to acquire the first two projects in the portfolio and expects to complete the acquisition of the balance of the portfolio in late 2017 and early 2018.

Construction of the portfolio is scheduled for completion in late 2018 or early 2019. Once completed, the facilities will have approximately 200,000 solar modules and be capable of producing 130,000 megawatt hours of clean electricity annually.

Matt O’Brien, President of CC&L Infrastructure, said:

“We are delighted to be making our first investment outside of Canada The investment is consistent with our strategy of investing in high-quality, long-duration assets in creditworthy jurisdictions – Chile is rated investment grade by Moodys (Aa3) and S&P (A+). This investment also leverages our existing competency in the construction and operation of solar power systems and our established relationships in the solar space. In this regard, I would like to thank CarbonFree Technology, our development and investment partner, for its collaboration on this opportunity.”

The power generated by the projects is expected to be sold at a stabilized price under the Pequeños Medios de Generación Distribuidos (PMGD) program in Chile, and will be transmitted to the grid through feeder lines owned by local distribution companies.