Connor, Clark & Lunn Infrastructure Enhances Financing
Connor, Clark & Lunn Infrastructure (CC&L Infrastructure) has achieved a significant milestone by securing more than US$200 million in bank financing. This financing is the result of collaboration with a syndicate of renowned international institutions, including CIBC, MUFG, Desjardins Group, and SuMi TRUST. The funds will support their extensive portfolio of renewable power projects across the United States.
Details of the Renewable Power Portfolio
The portfolio boasts over 560 megawatts (MW) of installed capacity, featuring a variety of renewable energy sources. It includes a prominent 200 MW solar project, complemented by four wind farms situated in multiple states, bringing in an aggregate installed capacity of over 360 MW. These assets are secured through long-term power purchase agreements, ensuring a steady revenue stream from high-quality offtakers and providing diversified exposure across three distinct US electricity markets.
Significance of the Financing Achievement
Moira Turnbull-Fox, the Head of Asset Management for CC&L Infrastructure, remarked on the importance of this refinancing, emphasizing that it showcases their asset management team's dedication to financial optimization and value creation. By capitalizing on their existing asset strength and robust relationships within the industry, CC&L Infrastructure has successfully navigated the financial landscape to secure a favorable financing package, contributing positively to value enhancement.
CC&L Infrastructure’s Global Presence
CC&L Infrastructure is recognized for its substantial global influence, possessing over two gigawatts of gross renewable power capacity distributed across various energy markets and technologies, including wind, solar, and hydro. Notably, the firm has successfully closed financing transactions exceeding US$5 billion in recent years. National Bank of Canada Capital Markets served as a financial advisor, ensuring that CC&L Infrastructure positioned itself strategically in the marketplace.
About CC&L Infrastructure
CC&L Infrastructure focuses on investing in middle-market infrastructure assets that exhibit favorable risk-return characteristics and the potential for stable cash flow generation. With around US$7 billion in assets under management, its diversified portfolio includes over 100 facilities distributed across 35 investments globally. This robust management strategy allows CC&L Infrastructure to thrive in various sectors and geographies while ensuring long-term value for its stakeholders.
About Connor, Clark & Lunn Financial Group
Connor, Clark & Lunn Financial Group Ltd. (CC&L Financial Group) operates as a multi-affiliate asset management firm, independently owned and renowned for offering a broad array of investment solutions tailored to both institutional and individual investors. The firm is distinguished by its ability to centralize non-investment management operations, enabling skilled investment managers to concentrate on their primary expertise. CC&L Financial Group manages over US$154 billion in assets, reflecting its vast scale and operational proficiency.
Frequently Asked Questions
What recent financial achievement did CC&L Infrastructure accomplish?
CC&L Infrastructure closed more than US$200 million in bank financing for its renewable power portfolio.
What types of energy projects are included in CC&L's portfolio?
The portfolio includes solar and wind projects, amounting to over 560 MW of installed capacity.
How does CC&L Infrastructure ensure revenue stability?
CC&L has secured long-term power purchase agreements with high-quality offtakers for its projects.
Who were the financial advisors for this financing transaction?
National Bank of Canada Capital Markets served as the financial advisor for CC&L Infrastructure.
What is the scale of CC&L Infrastructure's global operations?
CC&L Infrastructure has over two gigawatts of gross renewable power capacity distributed across various markets worldwide.
