Samsung Renewable Energy has formed a partnership with Connor Clark & Lunn Infrastructure and Six Nations of the Grand River to provide equity funding for a solar project in Ontario.
The partners concurrently announced the closing of a debt financing for the project.
The 100-megawatt Grand Renewable Solar (GRS) project is the largest of its kind in Canada and one of the largest in North America.
“As an Ontario-based firm, Connor Clark & Lunn Infrastructure is very pleased to be making an investment in this groundbreaking project, one of several renewable energy projects in which we have invested through our growing infrastructure business,” says Matt O’Brien, president of Connor Clark & Lunn Infrastructure.
The GRS project will assist Ontario in reducing its dependence on coal production and offset approximately 162,000 tonnes of carbon dioxide.
The solar power generated will be sold to the Ontario Power Authority under a power purchase agreement.