June 7 (Renewables Now) - Canada-based Connor, Clark & Lunn Infrastructure (CC&L) said on Thursday it has become the majority shareholder in Bremner Trio Hydro Corp and its 50-MW portfolio of run-of-river hydropower plant (HPP) projects in British Columbia.
The particular portfolio includes two HPP projects near Harrison Lake, namely the 27-MW Trio Creek and the 23-MW Bremner Creek schemes. Construction of the larger plant has already commenced, while building works at the Bremner Creek site are scheduled to begin later this year. Both plants will be put on stream by 2022.
CC&L, a unit of asset manager Clark & Lunn Financial Group Ltd, has also closed USD 197 million (EUR 174.8m) in debt financing for the construction of the two projects, calling for a total investment of USD 230 million. Equity partners are Greengen Holdings Ltd and Sts'ailes Energy Development Limited Partnership.
Once commissioned, the HPPs will operate under a 40-year power purchase agreement (PPA) with the British Columbia Hydro & Power Authority. Collectively, they will produce around 150 GWh of electricity per year that will help save over 100 tonnes of carbon dioxide (CO2) emissions.
Following the acquisition, CC&L’s hydropower portfolio will grow to about 300 MW. Financial details about the transaction were not available.
(USD 1.0 = EUR 0.887)