Infrastructure investment firm Connor, Clark & Lunn has announced it will help finance the 12-MW Hunter Creek hydroelectric project near Hope, British Columbia.
CC&L did not disclose the specific amount invested into Hunter Creek, though the Toronto-based group did say it had also closed about US$24.6 million in long-term debt financing with its partner, WindRiver Power Corp., to develop the plant.
Energy generated by the run-of-river facility will be sold to the British Columbia Hydro & Power Authority under a 40-year purchase agreement, with commercial operation expected in mid-2018.
Hunter Creek marks CC&L's second collaboration with WindRiver, who previously developed the 5.5-MW Sakwi Creek plant in Agassiz, B.C., in 2014.
"We are delighted to be making our second hydro investment alongside our development partner, WindRiver," CC&L Infrastructure president Matt O'Brien said. "This transaction leverages our experience investing in projects at the construction stage, and adds to our growing portfolio of long-life, stable, cash-generating infrastructure assets."
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