Connor, Clark & Lunn Infrastructure on June 28 announced an investment in the 12-MW Hunter Creek Hydro Project, a construction-stage, run-of-river hydro-electric project located near Hope, British Columbia.
Concurrent with its equity investment, CC&L Infrastructure and its partner, WindRiver Power Corp., also closed approximately C$38 million in long-term debt financing for the project. The project is the second in a portfolio of hydro projects that CC&L Infrastructure and WindRiver are developing together.
“We are delighted to be making our second hydro investment alongside our development partner WindRiver,” said Matt O’Brien, President of Connor, Clark & Lunn Infrastructure. “This transaction leverages our experience investing in projects at the construction-stage and adds to our growing portfolio of long-life, stable, cash-generating infrastructure assets.”
The Hunter Creek Hydro Project is scheduled to achieve commercial operation in mid 2018. All power produced by the facility will be sold to the British Columbia Hydro & Power Authority under a 40-year Electricity Purchase Agreement.
Connor, Clark & Lunn Infrastructure invests in North American infrastructure companies and projects with long lives, positive risk-return characteristics and the potential to generate stable cash flow. Connor, Clark & Lunn Infrastructure is a part of Connor, Clark & Lunn Financial Group Ltd., a multi-boutique asset management firm.