Connor, Clark & Lunn Infrastructure and Desjardins complete acquisition of Canadian hydroelectric projects

Connor, Clark & Lunn Infrastructure (CC&L Infrastructure) and Régime de Rentes du Mouvement Desjardins, Desjardins Financial Security Life Assurance Company, and Certas Home and Auto Insurance Company (together, Desjardins) are pleased to announce the acquisition of Regional Power Inc. from The Manufacturers Life Insurance Company. Regional Power’s assets include 3 operating run-of-river hydroelectric projects with a combined installed capacity of approximately 70 MW and a pipeline of development-stage wind and hydro generation opportunities.

The Long Lake, Bear Creek, and White River operating assets are high-quality, recently built hydroelectric projects, which benefit from long useful lives and the ability to store water and deliver energy during high demand periods. Each of the assets operates under a 40-year Electricity Purchase Agreement (EPA) for 100% of their output from investment-grade counterparties of which 33 to 37 years remain. The Long Lake and Bear Creek assets are located in BC and have EPAs in place with the BC Hydro and Power Authority. The White River asset is located in Ontario and has an EPA in place with the Independent Electricity System Operator.