Sep 8 (Renewables Now) - Connor, Clark & Lunn Infrastructure (CC&L Infrastructure) on Thursday said it has signed binding agreements to acquire 65 MW of solar projects in Chile in what is its first investment outside Canada.
The portfolio consists of 15 construction-stage, ground-mount projects that are due to be completed in late 2018 or early 2019. CC&L Infrastructure, part of asset management firm Connor, Clark & Lunn Financial Group Ltd, said it has closed on the investment to buy the first two projects in the portfolio. The acquisition of the remaining schemes is expected to be completed in late 2017 and early 2018.
The projects' output is expected to be sold at a stabilised price under Chile's Pequenos Medios de Generacion Distribuidos (PMGD) programme.
"The investment is consistent with our strategy of investing in high-quality, long-duration assets in creditworthy jurisdictions – Chile is rated investment grade by Moodys (Aa3) and S&P (A+)," said CC&L Infrastructure president Matt O'Brien. The company collaborated on the move with its development and investment partner CarbonFree Technology.