Canadian investment company Connor, Clark & Lunn Infrastructure (CC&L Infrastructure), has acquired a majority interest in Bremner Trio Hydro.
Bremner owns two run-of-river hydropower facilities currently under construction, near Harrison Lake in British Columbia.
The two hydropower plants are thr 27MW Trio Creek and 23MW Bremner Creek, which have a combined expected energy output of approximately 150GWh per year. The two projects are expected to offset nearly 100 tonnes of carbon each year, which is equivalent of more than 52,000 kilograms of burned coal.
Additionally, a debt financing of C$197m ($147m) has been secured for the construction of the projects with equity partners, Greengen Holdings and Sts’ailes Energy Development.
CC&L Infrastructure president Matt O’Brien said: “CC&L Infrastructure is pleased to complete this transaction and financing.
“The investment in the Bremner and Trio Creek hydro assets adds to our growing renewable energy portfolio, which now includes approximately 300MW of long-life hydroelectric generation. We look forward to advancing these high-quality projects alongside our partners over the coming years.”
Construction of the Trio Creek project is currently underway while work on the Bremner Creek project is expected to commence later in 2019. Both these hydro facilities are expected to begin operations by 2022. Total capital required for the two projects is approximately $230m.
The projects will supply clean energy to British Columbia Hydro & Power authority under a 40-year electricity purchase agreement.