Connor, Clark & Lunn Infrastructure (CC&L Infrastructure) has entered into an agreement to acquire an 80% stake in Sharp Hills wind farm from EDP Renewables (EDPR) for approximately C$0.6 billion, inclusive of investment tax credits.
EDPR will retain a minority equity interest in Sharp Hills and continue to operate and manage the project.
Located in Alberta, Sharp Hills has an approximate 300 MW capacity. The project recently entered into operations, with remaining construction expected to be completed by next quarter.
“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,” says CC&L Infrastructure president Matt O’Brien.
“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.”
This is CC&L Infrastructure’s second transaction with EDPR. With this investment, CC&L Infrastructure says it will own more than 600 MW of wind generation assets and have a total renewable portfolio exceeding 1.8 GW across Canada, the U.S. and Chile.
National Bank Financial advised CC&L Infrastructure as financial advisor and Torys LLP as legal counsel. CIBC Capital Markets served as the financial advisor to EDPR Canada.
