Connor, Clark & Lunn Infrastructure has announced 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.
Matt O’Brien, President of Connor, Clark & Lunn Infrastructure, said:
“We are delighted to be investing alongside our development partner, WindRiver, in this high quality, long-life infrastructure asset. 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.
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.