Parties
Company
Connor, Clark & Lunn Infrastructure
Company
EDP Renewables Canada Ltd.
Company
EDP Renewables
Connor, Clark & Lunn Infrastructure (CC&L Infrastructure) acquired a majority 80% stake in the Sharp Hills wind farm from EDP Renewables Canada Ltd. (EDPR Canada) for an enterprise value of C$0.6 billion, including investment tax credits. The deal increases CC&L Infrastructure's wind generation assets to over 600 MW and its total renewable energy capacity to more than 1.8 GW across Canada, the United States, and Chile. Sharp Hills, located in southeastern Alberta, has a 300 MW capacity, enough to power over 160,000 homes. The project, which recently commenced operations, is expected to complete construction by Q2 2024 and is supported by a 15-year power purchase agreement. Matt O'Brien, President of CC&L Infrastructure, highlighted the investment's alignment with the firm's growth in clean energy infrastructure. EDP Renewables North America's CEO, Sandhya Ganapathy, emphasized the partnership's contribution to Alberta's energy transition. This marks CC&L Infrastructure's second collaboration with EDPR. National Bank Financial Inc. and Torys LLP advised CC&L Infrastructure, while CIBC Capital Markets represented EDPR Canada. The transaction, subject to standard closing conditions, underscores both entities' commitment to renewable energy expansion.
Deal Type
Financing/InvestmentIndustry
EnergyTransaction
$ 600,000,000Deal Status
ClosedClosing Date
19 April 2024