Connor, Clark & Lunn Infrastructure (CC&L Infrastructure) has made an undisclosed investment in the 5.5 megawatt Sakwi Creek Hydro Project, a run-of-river hydroelectric project located just northwest of Agassiz, British Columbia. CC&L Infrastructure and Canadian renewable energy developer WindRiver Power Corp also partnered in a $17 million debt financing deal to fund the project. In the final stages of construction, the Sakwi Creek Hydro Project is expected to be operational later this year. CC&L Infrastructure is an affiliate of Toronto-based asset manager Connor, Clark & Lunn Financial Group.
PRESS RELEASE
Connor, Clark & Lunn Infrastructure Invests in Sakwi Creek Hydro Project
Toronto, July 2014
Connor, Clark & Lunn Infrastructure is pleased to announce an investment in the 5.5 megawatt Sakwi Creek Hydro Project, a run-of-river hydro-electric project located just northwest of Agassiz, British Columbia. Connor, Clark & Lunn Infrastructure and its partner, WindRiver Power Corporation (WindRiver), also announced the closing of approximately $17 million in long-term debt financing for the Project, the first in a portfolio of hydro projects that Connor, Clark & Lunn Infrastructure and WindRiver expect to finance together.
“We are delighted to be investing alongside our development partner, WindRiver, in this high quality, long-life infrastructure asset,” said Matt O’Brien, President of Connor, Clark & Lunn Infrastructure. “We would also like to thank Sts’ailes First Nation for its ongoing support of the Project”, Mr. O’Brien added. “We look forward to expanding our portfolio of hydro assets in B.C. in the years to come.”
In the late stages of construction, the Sakwi Creek Hydro Project is scheduled to achieve commercial operation in late 2014. All power produced by the facility will be sold to British Columbia Hydro & Power Authority under a 40-year Electricity Purchase Agreement.
About Connor, Clark & Lunn Infrastructure
Connor, Clark & Lunn Infrastructure invests in North American infrastructure companies and projects with long lives, highly attractive risk-return characteristics and the potential to generate stable cash flow. Connor, Clark & Lunn Infrastructure is a part of the Connor, Clark & Lunn Financial Group, a multi-boutique asset management firm whose affiliates are collectively responsible for the management of approximately $55 billion in assets.
For more information, please visit www.cclinfrastructure.com or contact:
Greig McKenzie
Chief Marketing Officer
Connor, Clark & Lunn Financial Group Ltd.
(416) 304-6634
gmckenzie@cclgroup.com
Photo courtesy of Shutterstock
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