Connor, Clark & Lunn Infrastructure (CC&L Infrastructure) announced that it has entered into a definitive agreement with Greengen Holdings Ltd. (Greengen) and Sts’ailes Energy Development Limited Partnership (Sts’ailes) to acquire a majority interest in Bremner Trio Hydro Corp., which owns two construction-stage, run-of-river hydropower facilities aggregating approximately 50 megawatts (MW) located near Harrison Lake in British Columbia. The portfolio consists of the 27-megawatt Trio Creek and 23-megawatt Bremner Creek hydroelectric projects, with a combined expected energy output of approximately 150 gigawatt hours per year.
“This transaction leverages our experience investing in projects at the construction-stage and adds to our high-quality portfolio of long-life infrastructure assets,” said Matt O’Brien, president of CC&L Infrastructure. “It is an honor to have the Sts’ailes First Nations as a partner and we would like to thank the local community for its support. We would also like to express our gratitude to GreenGen, the developer of the projects, for its significant contribution to the projects over many years.”
“We are pleased to be working with Connor, Clark & Lunn Infrastructure on this project,” added Ralph Leon, Chief of the Sts’ailes First Nations. “The Sts’ailes have an unbroken history on Harrison Lake, and our land and resources are central to both our culture and economy. This project is yet another milestone of our active approach to business governance. We pride ourselves in sustaining positive relationships with mutual benefits while remaining stewards of the land and resources. The return of our investment in this project will bring us to another caliber of socio-economic prosperity that will benefit our people for generations to come.”
With key construction and procurement milestones achieved, the Trio Creek project is underway, and the Bremner Creek project is expected to commence construction in early 2019. In total, the Projects will require approximately $200 million of capital and all of the power generated by the facilities will be sold to British Columbia Hydro & Power Authority under a 40-year Electricity Purchase Agreement.