Published by Todd Bush on February 21, 2024
TORONTO, Feb. 14, 2024 /PRNewswire/ - Connor, Clark & Lunn Infrastructure (CC&L Infrastructure) is pleased to announce that it has entered into an agreement to acquire a majority stake in the Sharp Hills wind farm (Sharp Hills, or the Project) from EDP Renewables Canada Ltd. (EDPR Canada), a subsidiary of EDP Renewables for an estimated Enterprise Value of approximately C$0.6 billion for an 80% stake and inclusive of investment tax credits. With the addition of this investment, CC&L Infrastructure will own more than 600 megawatts (MW) of wind generation assets and the Firm's total portfolio of renewable energy projects will exceed 1.8 gigawatts (GW) of clean energy capacity across Canada, the United States, and Chile.
Windmill (CNW Group/Connor, Clark & Lunn Infrastructure)
>> In Other News: Technip Energies Invests in the United Airlines Ventures Sustainable Flight Fund, Advancing Sustainable Aviation Fuel Development
Located in southeastern Alberta, Sharp Hills is one of the largest onshore wind farms in Canada with approximately 300 MW of capacity, representing clean energy generation equivalent to the amount of power used by more than 160,000 Alberta homes. The newly built project recently entered into operations, with remaining construction expected to be completed by Q2 2024. The construction of this facility marked a significant investment in the province, contributing to the local economy through job creation and funding to the community. Sharp Hills is fully contracted through a 15-year power purchase agreement with a high-quality counterparty.
"The Sharp Hills wind farm is an attractive addition to our increasingly diverse portfolio of infrastructure assets. We look forward to working further with our partner, EDPR, in the safe and successful operation of this facility for years to come," said Matt O'Brien, President of CC&L Infrastructure. "CC&L Infrastructure has a long history and significant expertise as an owner of more than 80 clean energy projects. We are excited to continue expanding our asset base and are actively pursuing further investment opportunities created by the increasing demand for renewable power and the broader energy transition that is underway."
"We're excited to partner again with CC&L Infrastructure, this time in Alberta," added Sandhya Ganapathy, CEO of EDP Renewables North America. "The Sharp Hills project underscores our continuing commitment to invest in Alberta and contribute to its grid resiliency and energy security. We look forward to continued efforts focused on Canada's energy transition."
This is CC&L Infrastructure's second transaction with developer EDPR, having previously acquired a 560 MW portfolio of wind and solar assets in the United States. EDPR will retain a minority equity interest in Sharp Hills and continue to operate and manage the Project. National Bank Financial Inc. advised CC&L Infrastructure as financial advisor and Torys LLP as legal counsel while CIBC Capital Markets served as the financial advisor to EDPR Canada. The transaction is subject to customary closing conditions expected to be satisfied in the coming weeks.
CC&L Infrastructure invests in middle-market infrastructure assets with attractive risk-return characteristics, long lives and the potential to generate stable cash flows. To date, CC&L Infrastructure has accumulated over $5 billion in assets under management diversified across a variety of geographies, sectors, and asset types, with over 90 underlying facilities across over 30 individual investments. CC&L Infrastructure is a part of Connor, Clark & Lunn Financial Group Ltd., a multi-boutique asset management firm whose affiliates collectively manage over CAD$118 billion in assets.
For more information, please visit www.cclinfrastructure.com and follow us on LinkedIn.
EDP Renewables (Euronext: EDPR) is a global leader in renewable energy development which has built a significant position in the energy landscape, establishing a presence in four global hubs - Europe, North America, South America, and Asia Pacific. With headquarters in Madrid and leading regional offices in Porto, Houston, São Paulo and Singapore, EDPR has a sound development portfolio of top-level assets and market-leading operating capacity in renewable energies. Its business mainly encompasses onshore wind, distributed and large-scale solar, offshore wind (through a 50/50 joint venture - Ocean Winds) and complementary technologies to renewables, such as hybridization, storage and green hydrogen. EDPR is a division of EDP (Euronext: EDP), a leader in the energy transition with a focus on decarbonization. EDP – EDPR's main shareholder – has been listed on the Dow Jones Index for 16 consecutive years, recently being named the most sustainable electricity company on the Index.
For more information, please visit www.edpr.com/north-america.
SOURCE Connor, Clark & Lunn Infrastructure
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.
Inside This Issue 🧪 $400M Bet on Blue Ammonia: Industry Giants Push Carbon Capture in Louisiana 🏭 Linde Signs Long-Term Agreement to Supply Industrial Gases to World-Scale Low-Carbon Ammonia Facil...
Inside This Issue 🔌 BP's Indiana Exit Is Not the Endgame for Clean Hydrogen ☀️ Cadiz Signs Second MOU for Hydrogen - Solar Development at Cadiz Ranch 🏗️ Heidelberg Materials Inaugurates Brevik CCS...
Inside This Issue 🧩 Who Gets Left Behind? Inside the Senate Plan Reshaping America's Clean Energy Future 🌿 TMD Energy Limited Enters into Strategic Memorandum of Agreement to Advance Green Bioener...
Entropy Enters Definitive Agreement to Purchase Strategic Carbon Storage Assets
Transaction increases Entropy's customer base and expands Entropy's operations into Saskatchewan CALGARY, AB, June 23, 2025 /CNW/ - Entropy Inc. ("Entropy"), a subsidiary of Advantage Energy Ltd. ...
Paris Air Show: TotalEnergies Signs a Deal with Quatra to Secure Feedstock for its Biorefineries
TotalEnergies and Quatra, the European market leader in the collection and recycling of used cooking oil, have signed a 15-year agreement beginning in 2026, for the supply of 60,000 tons a year of ...
Funding led by Taranis will accelerate deployment of Elemental’s low-carbon platform that transforms waste into high-value carbon nanomaterials, clean hydrogen, and recovered critical minerals. HO...
First large-scale multi-panel solar-to-hydrogen system to be installed at UT Austin’s Hydrogen ProtoHub, featuring sixteen photoelectrochemical hydrogen reactors totaling more than 30m² in active a...
Follow the money flow of climate, technology, and energy investments to uncover new opportunities and jobs.