Connor, Clark & Lunn Infrastructure Secures Over $200 Million for US Renewable Power Projects

Connor, Clark & Lunn Infrastructure Secures $200 Million in Financing

Connor, Clark & Lunn Infrastructure (CCL Infrastructure) has made waves in the financial sector with the recent completion of over $200 million in debt financing, distributed by a consortium of international institutions. This financing will bolster CCL Infrastructure's diverse portfolio in the US renewable power sector.

Acquired in 2021, the portfolio represents a significant capacity of over 560 megawatts (MW). The assets include a sizeable 200 MW solar project situated in Indiana and several wind farms distributed across Indiana, Wisconsin, Oklahoma, and Ohio, collectively generating over 360 MW. Each project benefits from long-term power purchase agreements, securing reliable revenue streams with reputable offtakers.

Moira Turnbull-Fox, the Head of Asset Management for CCL Infrastructure, expressed great pride in this achievement. She noted, “The completion of this refinancing marks a notable achievement by our asset management team, demonstrating our proactive approach to financial optimization and value creation.” This reflects CCL Infrastructure's commitment to maximizing the value of its investments and ensuring stability for its stakeholders.

CCL Infrastructure's global portfolio includes over two gigawatts of renewable power capacity, indicating its strong presence in various energy markets. The firm has successfully managed to close more than $5 billion in renewable power debt financing over the past few years, underscoring its expertise and dedication to advancing sustainable energy solutions.

The financing transaction involved National Bank of Canada Capital Markets serving as the financial advisor. Legal support came from Torys LLP for the borrower and Winston & Strawn LLP for the lender, ensuring all aspects of the financing were handled with professionalism and care.

The portfolio not only supports CCL Infrastructure's growth trajectory but also provides valuable contributions to the transition towards renewable energy in the US. With increasing demand for clean energy sources, CCL Infrastructure’s diverse assets allow for geographic and market diversification, minimizing risks associated with fluctuating energy prices.

CCL Infrastructure's operations focus on generating stable cash flows from middle-market infrastructure assets, showing a keen interest in maintaining a healthy mix of risk and return. With around $7 billion in assets under management across various types of investments, CCL Infrastructure has firmly established itself as a significant player in the infrastructure investment space.

The firm is also a part of the Connor, Clark & Lunn Financial Group Ltd., which manages a staggering $154 billion in assets across its affiliates. This reflects both the scale and the credibility of CCL Infrastructure in managing investments that have a lasting impact on society and the environment.

In conclusion, the successful financing of over $200 million not only elevates CCL Infrastructure’s standing in the renewable energy sector but also demonstrates a commitment to supporting sustainable development. As global interest in renewable energy continues to rise, CCL Infrastructure is well-positioned to lead initiatives that pave the way for a greener future, ensuring long-term returns for its investors while contributing positively to society and the environment.