Connor, Clark & Lunn Infrastructure completes purchase of two hydro projects in British Columbia
Connor, Clark & Lunn Infrastructure (CC&L Infrastructure) has completed the purchase of a majority interest in Bremner Trio Hydro Corp.
Bremner owns two construction-stage, run-of-river hydropower facilities located near Harrison Lake in British Columbia: 27 MW Trio Creek and 23 MW Bremner Creek. The projects have a combined expected energy output of about 150 GWh per year. Each year the projects will offset more than 100 tonnes of CO2.
Construction of the Trio Creek project is underway and the Bremner Creek project is expected to commence construction later this year. Both facilities are expected to be operational by 2022.
Aside from the transaction, CC&L Infrastructure has closed US$197 million debt financing for the construction of two hydro projects with its equity partners, Greengen Holdings Ltd. and Sts'ailes Energy Development Limited Partnership. In total, the projects require about US$230 million of capital. Once completed, it will benefit from a 40-year electricity purchase agreement with the British Columbia Hydro & Power Authority.
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