Samsung and Connor, Clark & Lunn announce financing for 50MW Solar Project

Samsung Renewable Energy, Inc. and Connor, Clark & Lunn Infrastructure recently announced the completion of a $190 million debt financing for the Southgate Solar project.

The 50 megawatt (MW) Southgate Solar project, located in western Ontario, will utilize Ontario-made solar panels and inverters and will produce enough clean energy to meet the needs of approximately 7,600 homes in the province each year.

The Southgate Solar project will begin construction soon, with completion scheduled for late 2016.

Steve Cho, Vice President of Samsung C&T Corporation, said: 

"Samsung is proud to be a part of the Southgate community and excited about our partnership with the township that will create local jobs. Samsung is dedicated to delivering meaningful economic benefits to communities where we are building clean, renewable energy projects."

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

"We would like to express our appreciation to the Township of Southgate for its strong support in helping us to achieve this important milestone and we look forward to making a positive economic contribution to the local community in the years to come. We would also like to thank our co-investment partner – Régime de rentes du Mouvement Desjardins – and acknowledge the significant involvement of our development partner, CarbonFree Technology Inc."

Connor, Clark & Lunn Infrastructure is making its fourth large solar investment with Samsung, increasing its portfolio of solar assets to approximately 350 megawatts.

Utilizing solar panels manufactured by Canadian Solar and solar inverters made by SMA America, the Southgate Solar project will help the province of Ontario reach its clean energy goals.