Canada's CC&L Infrastructure secures funds for solar portfolio in Chile
Solar panels. Photo by: Innovative Solar Systems (www.innovativesolarsystemsllc.com).
Canadian investment firm Connor, Clark & Lunn Infrastructure (CC&L Infrastructure) on Tuesday said it closed a USD-173-million (EUR 157m) debt financing to bankroll the ongoing construction of utility-scale solar projects and a further expansion of its portfolio in Chile.
The financing was led by Deutsche Bank AG (ETR:DBK), while the assets that will benefit from it were developed by CarbonFree Technology, a Canada-based company that is also in charge of their construction.
CC&L Infrastructure arrived in Chile in 2017 to acquire 65 MW of ground-mounted solar projects and make it its first investment outside Canada. Since then, its portfolio has grown to contain around 43 MW of operating parks, 40 MW of capacity presently under construction and the rights to further 120 MW of projects. The latter are to be acquired and constructed in 2020, the Canadian investor said.
Once the 200-MW-plus portfolio is fully realised, its solar parks will capable of generating more than 450,000 MWh of electricity per year. The sale of their output is secured through the Chilean small-scale distributed generation programme, known as PMGD, at a stabilised price.
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