Connor, Clark & Lunn Infrastructure (CC&L Infrastructure) has acquired a 49% interest in three operating wind projects in Canada from NextEra Energy Resources.
The middle-market fund infrastructure manager has invested an unspecified sum to acquire the stake in the 235MW wind portfolio comprising the Adelaide Wind, Bornish Wind and Goshen Wind projects in southern Ontario.
NextEra Energy Resources will retain a 51% interest in the projects and will continue to manage and operate the assets.
Matt O’Brien, president of CC&L Infrastructure, said: “This acquisition further advances our strategy of building a resilient, long-term portfolio of infrastructure assets underpinned by strong counterparties and stable cash flows.
“These projects strengthen our presence in the Ontario renewable market and demonstrate our commitment to responsible investment in projects that deliver attractive risk-adjusted returns.”
Eric Reidel, managing director of CC&L Infrastructure, said: “This transaction reflects both the strong fundamentals we continue to see in the Canadian renewables market and the ability of our team to execute on complex acquisitions with leading industry partners.
“We are pleased to have worked collaboratively with Energy Resources to complete this transaction, which highlights our relationship-driven approach to sourcing opportunities that add long-term value to our portfolio.”
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