Connor, Clark & Lunn Infrastructure to acquire U.S. renewable power portfolio from EDP Renováveis
Torys acted as counsel to Connor, Clark & Lunn Infrastructure with a team that included Philip Symmonds, Huw Evans, Marko Trivun, Emma Sako and Mike Meguid (corporate/M&A), Tom Zverina and Nadine Rockman Katz (lending).
On September 2, 2020, Connor, Clark & Lunn Infrastructure ("CC&L Infrastructure") announced that it entered into an agreement to acquire a U.S. renewable power portfolio from EDP Renováveis, S.A. ("EDPR"), increasing the capacity of the firm's clean energy portfolio to more than a gigawatt.
Together with its partner Régime de Rentes du Mouvement Desjardins and Desjardins Financial Security Life Assurance Company, CC&L Infrastructure will acquire a majority equity interest in a portfolio of five renewable power assets located across the U.S. representing more than 560 megawatts (MW) of total capacity. EDPR will retain a minority equity interest and continue to operate and manage the portfolio.
Subject to regulatory approval, the transaction is expected to be completed before year end.
Further information can be found on Canada Newswire's website.
Connor, Clark & Lunn Infrastructure invests in middle-market infrastructure and infrastructure-like assets with highly attractive risk-return characteristics, long lives and the potential to generate stable cash flows. CC&L Infrastructure is a part of Connor, Clark & Lunn Financial Group Ltd., a multi-boutique asset management firm whose affiliates collectively manage over C$77 billion in assets.
EDP Renováveis is a global leader in the renewable energy sector and the world's fourthlargest wind energy producer.